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June 16, 2004

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Bad loans

The SCMP reports:

Money will no longer be a barrier for those on the mainland wishing to have extensive cosmetic surgery as two financial institutions have now teamed up to offer unsecured loans to anyone looking to go under the knife...The Citic Industrial Bank and the Chengdu Rongzhong Credit Guarantee Company have joined forces to offer loans of up to 50,000 yuan (about US$6,200) for cosmetic surgery.

Applicants will not need collateral to obtain a loan, and will only be required to put down 5 per cent of the total cost of surgery.

No collateral required. They'll lend you the money for a nose job, face lift, tummy tuck, no questions asked. What happens if the borrower defaults on the loan? Does the bank repossess the body part or parts that were altered? And what does it do with them? Auction them off?

On the upside I expect China's population to become far better looking and bigger breasted (at least the women-folk) in the next 10 years. There are now no excuses for why China cannot become the Venezuela of Asia.

 posted by Simon on 06.16.04 at 09:29 AM in the




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Comments:

"There are now no excuses for why China cannot become the Venezuela of Asia."

yep, and then we shall see Miss China's winning the Miss Universe title every year ad nauseum from 2010 onwards.

hurrah?

 posted by: the evil b on 06.16.04 at 11:36 AM [permalink]




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