Bank of China (BoC) Vice President Zhu Min lambasted Wall Street bankers for being "over confident" and "myopic" in an interview at the World Economic Forum in Dalian, Bloomberg reported. "You go to Wall Street, the people feel the crisis never happened," Zhu said. "This is too much." The remarks were made after the Standard & Poor’s 500 Index rose more than 50% from a low in March, but US consumption remains weak, prompting concerns of another recession. Morgan Stanley Asia Chairman Stephen Roach said that the lack of consumer demand in the US will make the economy more vulnerable to shocks from external events that could drag down global economic growth. "I’d put the relapse odds one in four, maybe as high as one in three," he said. Zhu also announced that BoC will need to raise new capital to meet its adequacy ratios, but said the bank has no specific fund-raising plans.
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