China asks banks to temporarily freeze lending to cool economy

[CaliforniaKid23]

HONG KONG (Thomson Financial) - The Chinese government has asked banks to temporarily freeze lending until the end of this year to help cool its economy, the Wall Street Journal reported Monday, citing bankers and a government official.....

http://www.forbes.com/markets/feeds/afx/2007/11/18/afx4352323.html


So, what happens now?

 

[PARACLESE]

this belongs in economics or news.

 

[CaliforniaKid23]

sorry for posting in the wrong forum.

but, any ideas on which stocks will be most affected by this? citigroup, fxi, etc?

 

[poyayan]

Soon, they will realize that US will do it for them... If a combination of slow down and devaluation of dollar won't shrink trade deficit, I don't know what else will.

If it doesn't shrink, then Ben will devalue US$ till it shrinks.