– PBOC easing at record debt levels as CPI approaches 4%; – Shrinking current account; – Worsening HK social unrest; – EM currencies selling off; All foreshadows further CNY devaluation. Call it the Chinese banking recap 2.0
– PBOC easing at record debt levels as CPI approaches 4%; – Shrinking current account; – Worsening HK social unrest; – EM currencies selling off; All foreshadows further CNY devaluation. Call it the Chinese banking recap 2.0