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China Flinched
China flinched again. The country's central bank will inject $32 billion into the country's banking system, according to the Wall Street Journal. The capital will go to 2o major and regional banks. This is what the government refers to as "targeted easing", but many analysts say that these small jolts of stimulus will simply worsen China's mounting debt problems without solving the root of the issue. "China’s debt problem lies with the corporate sector," wrote Societe Generale analyst Wei Yao in a recent note. "The cure should be capacity consolidation and debt restructuring, rather than another stimulus package ... (full story)
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