Effects of credit crunch Essay Example | Topics and Well Written Essays - 1500 words

Effects of credit crunch - Essay Example ; data cover both central government debt and local government debt, which China's National Audit Office estimated at RMB 10.72 trillion (approximately US$1.66 trillion)in 2011; data exclude policy bank bonds, Ministry of Railway debt, China Asset Management Company debt, and non-performing loans 51.9% of GDP (2012 est.) 50.5% of GDP (2011 est.) note: data cover central government debt, and exclude debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data exclude debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions Central bank discount rate $3.389 trillion (31 December 2011 est.) $4.763 trillion (31 December 2010) $5.008 trillion (31 December 2009 est.) $1.015 trillion (31 December 2011) $1.616 trillion (31 December 2010) $1.179 trillion (31 December 2009) Commercial bank prime lending rate 2.25% (31 December 2011 est.) 3.25% (31 December 2010 est.) 5.5% (31 December 2010 est.) 6% (31 December 2009 est.) note: the Indian central bank's policy rate - the repurchase rate - was 8% during December 2012 Stock of money 6% (31 December 2012 est.) 6.56% (31 December 2011 est.) 10.8% (31 December 2012 est.) 10.19% (31 December 2011 est.) Stock of quasi money $2.434 trillion (31 December 2008) $2.09 trillion (31 December 2007) $278.8 billion (31 December 2009) $239.8 billion (31 December 2008) Stock of domestic credit $4.523 trillion (31 December 2008) $3.437 trillion (31 December 2007) $853.4 billion (31 December 2009) $687.7 billion (31 December 2008) Stock of narrow money $12.59 trillion (31 December 2012 est.) $10.92 trillion (31 December 2011 est.) $1.402 trillion (31 December 2012 est.) $1.249 trillion (31 December 2011 est.) Stock of broad money $4.91 trillion (31 December 2012 est.) $4.6 trillion (31 December 2011 est.) $342.3 billion (31 December 2012 est.) $305.7 billion (31 December 2011 est.) Taxes and other revenues $15.58 trillion (31 December 2012 est.) $13.52 trillion (31 December 2011 est.) $1.451 trillion (31 December 2012 est.) $1.293 trillion (31 December 2011 est.) Budget surplus (+) or deficit (-) 22.3% of GDP (2012 est.) 8.8% of GDP (2012 est.) -2.3% of GDP (2012 est.) -5.6% of GDP (2012 est.) Table 1; comparison between Indian and Chinese economies, retrieved from http://www.indexmundi.com/factbook/compare/china.india/economy. China and India have some similar country economic profiles and