What is the difference between a Chinese bank and an American bank?

(A) The Chinese bank has money in it.
(B) There is no difference. They are both supported by the RMB.

What is most ironic about this is the fact that 5 years ago (while American banks were taking on a stupid amount of risky mortgages), they were lamenting the fact that China has 20-30% non performing loans in the system… that the risk assessment and management mechanisms were a fraud..

Interesting how only 5 years later all the big Chinese banks still exist, and now the American banking and mortgage system is going to undergo an overhaul we haven’t seen since Bretton Woods.