China's mortgage quality worse than U.S.: academic | ReutersFirst Faved : Aug 13 2007 by mohitFaved : 1 time with noteViewed : 9 timesFave It!
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- mohit - Aug 13 2007 | china, investment club, investing, news
Quoted: HONG KONG (Reuters) - The quality of Chinese home loans is worse than in the United States, where a subprime mortgage crisis is causing turmoil in global financial markets, according to a prominent academic quoted in a Hong Kong newspaper on
Also,
Quoted: Defaults in the U.S. subprime mortgage market now total about $200 billion, on some $1 trillion of loans, according to Credit Suisse.
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This is not too surprising given Japan's dependency on U.S. consumers.
Let's see how this affects the U.S. markets tomorrow.
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