Economic COLLAPSE is starting in China, get ready for a major freefall

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China’s central bank walks a tightrope
People’s Bank of China draws down Covid support amid state-linked borrower defaults, a bond market sell-off and new recovery doubts

Multiple signals from Beijing suggest that the People’s Bank of China is on course to withdraw its Covid-19 emergency support. If that is the case, it is flying in the face of powerful headwinds.

These headwinds include a number of recent defaults by state-linked borrowers, a powerful selloff in the corporate bond market, and worries among investors that China’s recovery is less durable than hoped.

h/t BallsDeeper


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