Just three days after returning to Beijing from New York, I had to leave again, this time to a series of conferences in Torino, Italy, so it is hard to do much writing for my blog, especially since I won’t spend my free time in the hotel when there is so damned much food out [...]
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Tags: Consumer demand
Posted in Balance of payments, Banks, Consumption and production, NPLs • 76 Comments »
Since this is a very long post, it may make sense first to provide a quick summary of what I am going to argue. As I have discussed often in earlier posts, pessimists are starting to worry about excessive debt levels in China, about which they are very right to worry, and many are predicting [...]
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Tags: Consumer demand, credit expansion, Trade war
Posted in Asian development model, Balance sheets, Consumption and production, Fiscal debt and deficits, NPLs • 103 Comments »
Another terrible day on the stock market saw the SSE Composite, led kicking and screaming by energy and financial companies, trade more or less straight down by 3.2% to close the day at 2203. The brilliant autumn weather in Beijing (and the best week for air quality I have seen in seven years of living [...]
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Tags: Consumer demand, Inflation, Inventories, Policy
Posted in Inflation, PBoC • 1 Comment »