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The Chinese real-estate bubble is in full swing but that is not keeping its citizens from going on a spending spree. People having no experience with debt are spending as much as 25% of their monthly salary on credit cards.
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The first 300 foot, 6,800 tonne part of the new approach to the San Francisco Bay Bridge was delivered this week. This massive wing-shaped piece of steel, built in China, is the first of 28 to be delivered that will be used to rebuild the 73-year-old symbol of the Foggy City.
Athens is wooing Beijing to buy up to €25 billion of government bonds, say media reports. But the Chinese are not yet biting. What’s more, the EU is shuddering at the possibility of China bailing out one of its member-nations.
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