For those who thought that the global financial crisis was going to put a dent into credit lending, think again!
Chinese equipment manufacturer ZTE is partnering with Chinese financial organizations to provide loans in the range of USD 15 billion. The idea is to ensure that operators in developing and developed countries do not cut too drastically on their equipment purchase.
So, after funding the American consumer through the purchase of treasury bonds, China is now moving to sustaining companies. Adding to the already lower-priced products, Chinese firms may further develop their competitive advantage: ZTE just announced its first major Western contract – upgrading the network of Tesltra’s subsidiary in Hong Kong. For sure, the crisis is not lost on everyone.