Ann: Funding Agreement , page-15

there is some truth in what you say on this point when you look at it from a western point of view. but chinese are about 50 years or 100 years. on that measure gbg is a great success and even the citic disaster might balance out if it runs long enough. plus there is a face thing. once committed they will at least hold onto what they have put in. my point with tfa is that they are going in deeper. as a shareholder I now know the chances of loosing everything have significantly reduced and in this market that is important to me. whether fwl can build on this, who knows.