Will the Keynesian fraudsters at the PBOC be the first central bank to lose control of the massive debt pyramid they’ve created?
Hegang represents just the tip of the iceberg of a local government debt problem that’s making investors increasingly nervous and that threatens to be a drag on the world’s second-largest economy for years to come. Goldman Sachs Group Inc. estimates China’s total government debt is about $23 trillion, a figure that includes the hidden borrowing of thousands of financing companies set up by provinces and cities.
SHANGHAI/SINGAPORE (Reuters) – The last great hope for China’s faltering post-pandemic rally is fading as the nation’s legion of small-time investors turns bearish on equities to double down instead on safer assets amid a stuttering economic recovery.
Brokers and money managers had expected billions of yuan in excess savings would find their way to the stockmarket this year as the economy gathered pace and enough uncertainty remained over real estate to leave equities the only game in town.
www.msn.com/en-us/money/markets/analysis-small-investors-are-souring-on-chinas-recovery/ar-AA1bRAyv
h/t Simian_Stacker