been chasing this property bubble, and in order to create this bubble, offering very very high returns and it works for quite a while because property prices were going up and everybody was sort of a win win for everybody. the everybody was sort of a win win for everybody- for everybody. the property developers for everybody. the property developers could for everybody. the property developers could throw - for everybody. the property developers could throw up i developers could throw up buildings that people thought that they needed, and investors would get the returns of ten or 15%. however, bubbles everywhere crashed, united states it happened in 2009, and that s what s happening now. so therefore all these investment products are no longer worth very much. it is a little surprising but the central government is making this into a criminal case because it s basically a lack of regulation. it is not necessarily that anybody who was stealing the money although that s al
the firm has a sizeable exposure to china s real estate industry that has been rocked by serious financial problems like evergrande and country garden. having a look at how this impacts the chinese economy i have been speaking to andrew collier, an expert on shadow banks. the bigger threat is not so much a meltdown like the united states had in 2009. that occurred because there was lots of liquid products sold in wall street, and when the property market went down, those products very quickly had to be revalued. went down, those products very china, most of its debt is held in these shadow banks and in some of the bricks and mortar banks so the rate of decline can be slowed a little bit. however, the bigger issue is debt. overall, the debt in the property sector is huge. as much as 30% of bank assets, and that will take a long time to unwind, and the central of government is very reluctant to step in and probably can t have enough cash. under the circumstances, what needs to
and when the property market went down, those products very quickly had to be revalued. china, most of its debt is held in these shadow banks and in some of the bricks and mortar banks so the rate of decline can be slowed a little bit. however, the bigger issue is debt. overall, the debt in the property sector is huge. as much as 30% of bank assets, and that will take a long time to unwind, and the central of government is very reluctant to step in and probably can t have enough cash. under the circumstances, what needs to be done? the government has to make decisions on allocating defaults. will mortgage holders get hurt? that is what happened in the united states, lots of people lost lots of money in their housing. will the banks be squeezed? they can be but then you can t put the banks out of business because then you lose your financial system. so there will be a lot of investors, people in zhongzhi, who they thought could make a killing, and they are losing theirshirt, p
fact that nissan and its partners are tripling their investment in the uk to £3 billion. this is our largest car plant. its future is safeguarded, protecting thousands of jobs, and also transitioning to new electric vehicles. it is a huge vote of confidence in the uk and it is great in advance of the global investment summit we are hosting what will be hosting over 200 business and investment litters all around the world, all of whom will be talking about committing to the uk because it is a fantastic place to do business. they are protecting and creating jobs across the supply chain, so it is good news. professor david bailey is from university of birmingham. it isa it is a huge vote of confidence in the sunderland plants. and many more thousands in the supply chain. nissan had said previously it would make electric vehicles, but haven t said which ones, so we now know what they will be. the cash chi and the duke are good selling cars. cash cow are regularly in the top ten.
technology. certain parts of those surveys are supposed to be inaudible infrastructure and governed by non profit and yet, there is so much capitalistic kind of approaches to control of the commercial aspect and commercial potential of this technology. i think that openai saga was, you know, the fundamental tension is really between the nonprofit mission versus full profit but, of course, there is a lot of nuance between this in terms of how they govern, how the board handles this whole situation, including exactly what technical concerns that the board has seemed to compel them to press the panic button. last night overnight i woke up to a lot of discussion in terms of studies but we can take that later but the most important thing we can ask is what kind of, you know, technology, what kind of digital service should be governed by non profit and regarded as a public service and what kind of technology should be controlled by shareholders and commercial services? , sharehol