Renowned bear Ambrose Evans-Pritchard says the China crisis has passed:
Gothic warnings of a Chinese collapse this year will look silly by Christmas. The reckoning has been delayed again.
Given the sanctions and given that China has a trade surplus of $600bn or 6pc of GDP – and is therefore accumulating foreign exchange at blistering pace, ceteris paribus – there is no chance whatsoever that reserve losses will spin out of control.
