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Lee Duna@lemmy.nz to World News@lemmy.worldEnglish · 1 year ago

China is merging hundreds of small banks to fend off financial stress

www.businessinsider.com

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China is merging hundreds of small banks to fend off financial stress

www.businessinsider.com

Lee Duna@lemmy.nz to World News@lemmy.worldEnglish · 1 year ago
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2,100 banks could be affected as China looks to curb the bad loan environment of its rural communities, Bloomberg reported.
  • GreatAlbatross@feddit.uk
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    1 year ago

    If they’re external creditors, it makes it a lot easier for them to go “nope, not paying that, what are you going to do?” when they’re one massive state-backed monolith.

    • Brave Little Hitachi Wand@lemmy.world
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      1 year ago

      “Give Taiwan nukes”, if the Dark Brandon memes are any indication.

      • DdCno1@kbin.social
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        1 year ago

        Taiwan could develop nukes on their own, if necessary. They had a secret nuclear weapons program until the late 1980s:

        https://en.wikipedia.org/wiki/Taiwan_and_weapons_of_mass_destruction

        They are in the same club as countries like Japan, South Korea, Germany, Italy, etc. - highly developed nations that are fully capable of developing nuclear weapons, but chose not to (or were forced not to).

        • Brave Little Hitachi Wand@lemmy.world
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          1 year ago

          I think if they started working towards it, China would feel forced to step up their reunification efforts. If a nuclear deterrent is going to be a viable path back to a stable status quo, it will have to be a fait accompli with external help.

          • DdCno1@kbin.social
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            1 year ago

            I could imagine a return to what Taiwan had until the early '70s, American tactical nuclear bombs stored on the island, in a similar nuclear sharing arrangement like several European nations that don’t have nuclear weapons of their own, but train pilots to drop them.

            • Brave Little Hitachi Wand@lemmy.world
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              1 year ago

              It would have to be done very carefully and quickly, so that there is no chance for brinkmanship.

              • Zevlen@lemmy.world
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                1 year ago

                deleted by creator

                • Brave Little Hitachi Wand@lemmy.world
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                  1 year ago

                  Can I help you?

                  • Zevlen@lemmy.world
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                    1 year ago

                    deleted by creator

                • Zevlen@lemmy.world
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                  deleted by creator

    • gravitas_deficiency@sh.itjust.works
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      1 year ago

      Sovereign default is a thing. It’s a short term solution that can get a country out of immediate danger, but has very negative long term effects.

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