China
posted on
Feb 05, 2009 04:38AM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
One of the stories that accompanied the fall of silver was the destruction of industrial demand for silver. China was routinly sited as one of the major factors. The claim was that China is falling apart with lack of exports to the "industrialized west". Well....
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"China's banks are now the strongest anywhere. In fact, non-performing loans, or NPLs, fell by $102 billion in 2008 to $83 billion ... just 2.45% of the total loans outstanding. That's amongst the lowest NPL ratios of any country.
Moreover, Chinese banks' total assets jumped 18.6% in 2008 to $9.1 TRILLION. In other words, its bank assets are equal to almost the entire GDP of the U.S.
And despite all the gloomy talk on China,
There Are Plenty of Signs of
The Economy's Resilience ...
I suspect that's going to be a drop in the bucket compared to the job creation we will see in the years ahead as $600 billion gets invested largely in rural infrastructure."