Trading in the zone
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China’s Central Bank Makes Even the Heroic Fed Look Like a Bunch of Amateurs
The phenomenal credit expansion in China has taken many forms and has accomplished many phenomenal things, from building entire ghost cities to turning ambient air into a toxic cocktail. In the process, the credit bubble turned China into the second largest economy. Some of this freshly created money has been spread around. Hence, the growing middle class. Those with significant accumulation of wealth are trying to get some of it out of China before it all blows up or before the corruption crackdown or a purge or some other business misfortune takes it all down. In China’s state-controlled system, credit expansion ... (full story)