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Friday, December 19, 2008
Europe is keeping China (and America) going
A very interesting piece by Brad Setser, where he shows that the EU's currency strength and growing imports from China have offset the levelling in demand from America. His bottom line is that China's making money from us and lending it to the US.
A lot of companies are going bust in China right now, there have already been riots, murmerings of discontent with the CCP. Chinese stockmarkets are down a long way from their peak. We've only just begun this journey and China is struggling to cope.
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A lot of companies are going bust in China right now, there have already been riots, murmerings of discontent with the CCP. Chinese stockmarkets are down a long way from their peak. We've only just begun this journey and China is struggling to cope.
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