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| | Fixing China's Banks, Not Russia's |
 | | Their financial counterparts spawned in the 1990s are International Trade and Investment Corporations, ITICs (joint ventures of local governments and foreign entities), rural credit cooperatives (RCCs, grown up to 35,000 by 2004), urban cooperative banks and credit unions, city commercial banks, and the 11 joint-stock commercial banks, national in scope. |
 | | China's financial deepening from the 24.8 percent ratio of loanable funds to GDP in 1979 to 182.4 percent in 2004 was swift, steady, and, during the last five years, accelerating. |
 | | This pattern of financial deepening is the source of expansion of loanable funds documented in figure 3. |
| www.russianeconomy.org /comments/052504.html (15099 words) |
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