As I've been warning on this blog for some time, the explosion of credit in China has created a great deal of paper-bottomed optimism over the recovery. Fitch, the ratings agency, has just raised its macro-prudential risk indicator ffor...
It's easy to get caught up in the excitement over the rebound in the Chinese economy and miss underlying weaknesses which point to some major problems ahead. To some extent, in a desperate effort to compensate for collapsing export...
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