BRICS economy is about USD12T, USA is USD15T.
World GDP perhaps about USD65T.
China ownes USD3T of US dollar reserve, or 30% of US dollar reserves of the world.
USD household debt over household income is about 120%, Singapore is about 100%, guess what is Malaysia, 134%.
The monster in the room is credit creation. Last 5 years, residential loan in Malaysia has doubled from RM98b to RM218b (source: The Star). Easy credit leads to ineffective allocation of resources.
MyView
PIIGS are suffering now. USA is postponing it. There is basically no way out, just let the credit implode. Who says the bigger the bank, the lesser the risk? The bigger the bank, the bigger the problem. Bigger banks does not reduce risk, it is a myth. Stop the merger, or it monster will grow until it is too big to fail status.
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