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Newsletter May 2005: Bailing out Chinese banks to cost $350 billion

Staff | February 19, 2007

BEIJING – The cost of recapitalising China’s major banks has exceeded $250 billion since 1998, and could increase by another $100 billion or more, according to estimates by Moody’s credit rating agency. This is a multiple of the final cost to the US taxpayer of bailing out the savings and loans institutions in the late 1980s and early 1990s.

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