John Ashley, China, Chinese Central Government discussed on Bloomberg Surveillance

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The investors who stand with them banned the feeling is mutual influential conversations from bloomberg television here's harvey look these are the rest ice in this case we had defaults in the corporate sector and john ashley falling last year a outran till messy he with may eight is they sort of a year with china get serious about and risking dc that playing out it is and and i would i would point out that the yes property developments in obvious place where they where the chinese central government will allow defaults to occur but i would add to that that the the banking industry's structure products that are sold so wealthy investors rdg target too because those products contain leverage and it's really leverage that the central committee's going after here so that's where we should expect the defaults and i don't see the defaults as necessarily a negative there are a sign of a of an economy that's moving into the real world if you will it's a positive in some respects because it's a free economy it's a it's an open economy in some respects never has been in the past and this this is just a indication to us that the movies we saw twelve fourteen years ago in banking where where healthy banks were were rewarded by the government and poor banks were not rewarded or were hurt by the government now we've gone the next step in our entering into the show banking area that's a positive hear more interviews like this one on bloomberg television streaming live on bloombergcom and on the bloomberg mobile app or check your local cable listings mobile business news 24 hours a day path bloombergcom the radio mobile app and on your radio this is a bloomberg business.

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