“Document No. 15” circulating among Chinese banks in early July caused unease. It said that banks should stop lending to local-government financing vehicles with debts of $7.5trn of which 1/4 is bonds. Then the directive vanished! Too much risk in system
economist.com/finance-and-ec… https://t.co/t44TiaomZx
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow
May 18, 2023
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow the money,…