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Why Chinese or Russian banks can pay 7-14% interest and US banks can not ?
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<blockquote data-quote="EricSuggs" data-source="post: 2260249" data-attributes="member: 789595"><p>Hmm... sounds like someone is ANTI-capitalistic here.</p><p></p><p>Two reasons, supply and demand.</p><p></p><p>The bank doesn't just give whatever it wants, it has competition, and in the end it is just a middleman.</p><p></p><p>If the interest is higher in Russia, that is because BORROWERS (like when you purchase a home loand) are paying more and that the demand for money/loans is very high.</p><p></p><p>Basically, there is a high demand for loans/credit but not a ton of savings to back it up. Borrowers have to bid for the savings that there are, and that makes the interest rate go up.</p></blockquote><p></p>
[QUOTE="EricSuggs, post: 2260249, member: 789595"] Hmm... sounds like someone is ANTI-capitalistic here. Two reasons, supply and demand. The bank doesn't just give whatever it wants, it has competition, and in the end it is just a middleman. If the interest is higher in Russia, that is because BORROWERS (like when you purchase a home loand) are paying more and that the demand for money/loans is very high. Basically, there is a high demand for loans/credit but not a ton of savings to back it up. Borrowers have to bid for the savings that there are, and that makes the interest rate go up. [/QUOTE]
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