Ansuya Harjani writes:
“In the fourth quarter, we’re seeing corporate loans decline significantly, very shockingly most of our bankers say less than 20 percent of their lending goes to new loans. Most of its going to debt rollovers or increases, they are not funding expansion. That indicates that this is not a period of strong expansion,” Leland Miller, president at CBB [China Beige Book] told CNBC on Wednesday.
This is not what Australian governments, media and hard rock mining companies want to hear. This message is not being disseminated int a delusional market.