Wednesday, July 3, 2013

Why China's financial jitters matter

BBC News  "Pay attention to China. The US has had its crisis, and so has Europe. Now it's China's turn."

If China's super-wealthy, particularly those concerned about their political future, see the writing on the wall, then they may try to cash in their assets and move their money to the safest place they can - outside China.

And if panic spreads to the middle classes, they may decide a low-interest account at a state-owned bank is a much safer bet than owning property or those tantalising WMPs.

Full article