Don't Watch This: Confucius
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"Financiers have the least conscience in the world when it comes to making money... By saying that, I would have offended many bankers and financiers, but this is my personal experience."
— Han Zheng (韩正), mayor of Shanghai.
Han Zheng voiced his misgivings about bankers in a recent interview about fulfilling China's mandate on making Shanghai a world financial capital. He went on to add that Shanghai needs to contain the "animal spirits" that led Western banks to take on their oversized credit debt. Source: Bloomberg
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He forgets about his predecessor so easily...
"You are all scum, come to my city to do business and make great profits!!!"
CCP cadres turning to cheap populism......intersting. What does he think of real estate developers, I wonder? Urr, I mean the smaller developers after the largest, most predatory player, namely the Municipal Gov. of Shanghai?