according to a report by the Chinese central TV -
CCTV - 4 today the 11 April 2008
reports that the Chinese Administration Bureau for
Foreign Exchanges estimates
that so far this year 85 billion US$ of Hot Money
has entered the Chinese banking system from outside China .
this Hot Money helped to maintain the high prices of the
Chinese residential property market .
where are all these Hot Money coming from ?
UBS and Citibank have no more cash .
