Word: bankes
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Dates: during 2000-2009
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...industrialized world - you'll see a thousand gray Astro satellite dishes around Belaga before marking a wild hornbill along the turbid Rajang. I sip limeades with Calvin at a riverfront café on my last night in town. He points to a weathered chieftain's tomb on the opposite bank, a wooden blur amid ferns and rubber and durian trees. The family hasn't maintained it for years, and restoration is unlikely. It's getting darker as the sun dips below Jayong mountain to the west. Soon the day will be gone, and soon so will the tomb...
...more remarkable aspects of Chinese government efforts to fend off the global economic downturn has been a surge in lending. To keep struggling enterprises afloat, Beijing urged Chinese banks to open the credit floodgates - and bankers have done so. The People's Bank of China, the central bank, estimates that $224 billion in new loans were made in June alone, bringing the total for the first half of the year to $1.08 trillion - 50% more than the amount of loans Chinese banks issued in all of 2008. (Read "China's Banks Become the Government's Foot Soldiers...
...This imbalance has forced small-business owners to avail themselves of unusual lending schemes. In many regions, companies are forced to go around the traditional banking system altogether by borrowing from other businesspeople or even loan sharks. This sort of informal banking, which has a long history in China, has become more popular as the economy slows, says Du Xiaoshan, deputy director of Rural Development Institute at the Chinese Academy of Social Sciences. "It's hard for small and rural businesses to get bank loans, so there's generally more informal lending happening," says Du. (Read "The Argument Over China...
...result is a program that acts as a kind of matchmaking service between members and banks. The service began last year in Zhejiang, a coastal, trade-focused province south of Shanghai, where 600 businesses used Alibaba to acquire loans worth more than $146 million through China Construction Bank and the Industrial and Commercial Bank of China. This year the program has expanded to Guangdong, Shandong and Jiangsu provinces and several coastal cities including Shanghai and Shenzhen. Seven other banks, including Bank of China, China Merchants Bank and Shanghai-Pudong Development Bank, have signed on. Alibaba expects to facilitate more than...
...While new types of lending programs are slowly expanding credit to SMEs, things could get worse later this year. The overall boom in bank lending has increased the risk of bad loans that could come back to haunt the financial system and delay economic recovery. Some economists now say that policymakers will want to control credit more tightly in the second half of the year. Their challenge will be to ensure that small businesses that have seen little help thus far don't get further squeezed as the credit explosion is reined...