China sails full steam into the liquidity trap

Monday 15 August 2022

Chinese credit was out Friday night and it is in all sorts. After a few good months, credit flow hit the wall in July printing just 756bn yuan:

Year on year growth plunged into the red:

The rolling annual is still trending down:

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About the author

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.