Korea’s early repayment of the full amount of loans from the IMF is a major milestone.
What people don’t realize is that China papered over its last two credit bubbles, those in 1999 and 2004. The banks were never bailed out – they just exchanged their bad loans for questionable bonds from quasi-state organizations.
I worked while in high school and college so that I could pay for school. I also had loans.
