After years of pumping financial support into dying companies, China is letting them fail—and building a bankruptcy system to clean up the mess t.co/sVzZc0Vr1Q
— Real Time Economics (@WSJecon) November 6, 2019
Last week we saw the largest divergence between China’s Caixin PMI & official PMI, as Caixin new orders ripped. We know that Caixin is primarily small/mid-sized businesses (500 cos) on the eastern border dependent on trade, while official measures 3000 co’s across all of China. pic.twitter.com/vNtHl13VwE
— Teddy Vallee (@TeddyVallee) November 6, 2019