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 2009

South Africa: Leadership crisis short-circuits Eskom

Electricity firm without chairman and CEO; Infrastructure investment plans challenged


A leadership clash could hardly come at a worse time for Eskom, South Africa’s state-owned electricity generator. The prospects for the country’s recovery hinge to a large extent on Eskom’s ability to implement a R385 billion ($52 billion) investment programme and prevent blackouts of the kind the country experienced in 2008. Nationwide power shortages have only been alleviated in 2009 by the impact the recession has had on demand....


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