The default troubles at the globes most indebted property development, Evergrande seem like small embers compared to the $8.2 trillion worth of China local government financing vehicles outstanding, Forbes reported.Analysts at Goldman Sachs .
by Tyler Durden
Wednesday, Jul 07, 2021 - 07:05 PM
With the Fed debating whether to keep talking about tapering or finally do something about it - even if that something means injecting another trillion of liquidity into the economy by the end of 2022 while nipping and tucking $10 billion per month here and there - China is starting to move in the other direction.
With China s economy rapidly cooling, as the latest sharp drop the Caixin Services PMI demonstrated, after badly missing consensus expectations and poised on the edge of contraction.
. a move which was predicted here months ago when we discussed the collapse in China s all important credit impulse.
Yuan Forward Sales Surge To Highest Since 2015 zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.