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Thread: Paulson: Wang Qishan Prevented Chinese Banking Crisis in 1998

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    Paulson: Wang Qishan Prevented Chinese Banking Crisis in 1998

    Hank gushes:

    Quote Originally Posted by Henry Paulson
    I know Vice Premier Wang, 60, to be decisive and inquisitive. He is an avid historian, enjoys philosophical debates and has a wicked sense of humor. He is a Chinese patriot, but he understands the U.S. and knows that each of our two countries benefits from the other's economic success. And he is bold — he takes on challenges, does things that have never been done before and succeeds. Wang managed the largest bankruptcy restructuring in China's history in 1998 and thereby prevented a banking crisis that could have crippled the country's growth.

    Read more: http://www.time.com/time/specials/packages/article/0,28804,1894410_1893847_1893846,00.html #ixzz2JPTKO2vq
    What's the reality? What has happened in the Chinese economy in the past few decades? What role did Wang Qishan play in 'restructuring' bankruptcy in China? All I'm finding is the Henry Paulson quote re-quoted around the Internet.
    I'm a moderator, and I'm glad to help. But I'm an individual -- my words come from me. Any idiocy within should reflect on me, not Ron Paul, and not Ron Paul Forums.



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  3. #2
    Anyone have some insight on the Chinese economy? Was a banking crisis really avoided? Or were cronies protected as in TARP?
    I'm a moderator, and I'm glad to help. But I'm an individual -- my words come from me. Any idiocy within should reflect on me, not Ron Paul, and not Ron Paul Forums.



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