"... China's total lending reached 140% of GDP at midyear."
" ... the loans are creating huge amounts of manufacturing capacity -- which is unneeded in the bears' view. China's spare capacity in the cement industry, for example, equals the total annual consumption in the U.S., Japan, and India combined."
WAHAAT does he mean ? "..“We have been very fortunate that the stock markets moved back” and are “re-liquifying the whole process,” Greenspan said".