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Business news without the bullshit
The East is Red...red ink that is
Exports shrinking, banks choking
, banking crisis
, container traffic
, mark to market
, non-performing loans
, ocean freight rates
, open order book
, open orders
, Peter Baum
, real estate
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When Europe sneezes
Manufacturing - even when you're employing slave labor - is a capital intensive business.
To survive, manufacturers needs to have ready access to credit.
Loans are made based on collateral (unless you're Goldman Sachs or an Obama favorite.)
For manufacturers, collateral can come from one of two places: 1) land and building and 2) order book.
What happens when the value of your land and buildings shrink and your order book collapses?
Chinese manufacturers are beginning to find out. Maybe western analysts will get a clue that we don't live in Fantasyland.
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