Michael Pettis, This is not the time to attack China. Financial Times. Feb.
18, 2009. http://www.ft.com/cms/s/0/543674b6-fd04-11dd-a103-000077b07658.html?nclick_check=1
Quote:
"Take the recent expansion in lending. The Chinese banking system in some
sense is the mirror image of that of the US. Whereas American banks
accommodated expansion of liquidity of the past decade by making imprudent
loans to the consumer sector, Chinese banks responded to their own surge in
domestic liquidity by channelli
