Tenants said they’re facing down the deadline with very few options.
“It’s a nightmare,” said John Bradley, a River Place tenant. “It’s been one thing after another and now we’re all basically on the street.”
It is so unfortunate that it has come to this
Some of the building’s residents, including Bradley, had moved to River Place from “tent city,” the encampment in the city’s downtown core disbanded by officials late last year. Bradley said he had been living at River Place in his own room since then and had initially been hopeful it was a chance to change his life.
China’s banks are bursting with dollars, and that’s a worry
A mountain of dollars on deposit in China has grown so large that banks are struggling to loan the currency and traders say it poses a risk to official efforts to control a fast-rising yuan.
Boosted by surging export receipts and investment flows, the value of foreign cash deposits in China’s banks leapt above $1 trillion for the first time in April, official data shows
A previous jump, late in 2017, preceded heavy dollar selling which turbocharged a steep yuan rally in early 2018.
Market participants say the size of the even bigger hoard this time raises that risk, and leaves policymakers’ efforts to restrain the yuan vulnerable to the whims of the exporters and foreign investors who own the cash.
SHANGHAI, June 2 A mountain of dollars on deposit in China has grown so large that banks are struggling to loan the currency and traders say it poses a risk to official efforts to control a fast-rising yuan. Boosted by surging export receipts and investment flows, the value of foreign cash.
Publishing date: Jun 01, 2021 • 1 hour ago • 4 minute read •
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SHANGHAI/SINGAPORE A mountain of dollars on deposit in China has grown so large that banks are struggling to loan the currency and traders say it poses a risk to official efforts to control a fast-rising yuan.
Boosted by surging export receipts and investment flows, the value of foreign cash deposits in China’s banks leapt above $1 trillion for the first time in April, official data shows
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A mountain of dollars on deposit in China has grown so large that banks are struggling to loan the currency and traders say it poses a risk to official efforts to control a fast-rising yuan.