The truth about Asian investment banking
China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

December 2008

Petrobras: hope amid the storm


Policies in place to weather the storms
Brazil to gain a new global profile?
Banks trade on their strengths
Profitability holds up – so far
Consolidation to accelerate?
Real economy takes a hit
Petrobras: hope amid the storm

Petrobras, the oil giant 55.7% owned by the state, is often held up as a totem of Brazil’s success. The company is Brazil’s largest single exporter – last year its exports represented almost 9% of the country’s total – and its largest taxpayer, representing around 9% of federal, state and municipal taxes. So how is it faring?

Clearly the...


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