I noted yesterday that Chinese broad credit is still struggling to rebound, quite unlike previous stimulus episodes:
Some more charts today from WSJ Daily shot make the point again:
More stimulus will be needed or growth will keep slowing. The PBOC is clearly loath to cut cash rate lest it crash CNY but it will have no choice soon.
David Llewellyn-Smith
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
Latest posts by David Llewellyn-Smith (see all)
- Another psychopath in The Lodge - January 15, 2020
- MB over Christmas - December 24, 2019
- Amusing bonds price in rate hikes - December 24, 2019
YOU MAY ALSO BE INTERESTED IN
China's daisy chain default disaster
Via Zero Hedge: Just days after China's "moment
Rhodium: China's stimulus binge bill "coming due"
Rhodium Group with an absolute cracker of report
Another Chinese bank goes bust
Via the WSJ: China’s sovereign-wealth fund is
"Prudent" PBOC cuts rates
Recall the words of CCP economic working