Subject: Chinese finance: A shadowy presence
From: "Michael Andrews" <[email-masked]>
To: "Hunter Biden" <[email-masked]>, "Eric Schwerin" <[email-masked]>, "Devon Archer" <[email-masked]>
Date: Fri, 1 Apr 2011 10:50:49 -0400

What is going on in China is much like what occurred in the US in the  
late 1970's and 1980's as the economy becomes more sophisticated and  
the pools of money outside banks seek greater returns you begin to see  
rapid grow of the shadow banking system. It is funny that the BOC  
thinks it can control the money supply simply by controlling bank  
credit when the unregulated pools of money are expanding and   
thwarting the efforts o central banks.