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China’s Leaders Are Blowing Their Last Chance to Avert an Economic Crisis

Wednesday, April 13, 2016 14:34
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(Before It's News)

by Ambrose Evans-Pritchard
Telegraph.co.uk

China panic has abated. The Shanghai Composite index of equities is back above 3,000. The much-feared devaluation never happened.

The yuan has strengthened against the dollar this year, to the consternation of Western macro-tourists. Outflows of money have slowed as dollar debt is paid off and Chinese investors wind down ‘carry trade’ positions.

The central bank (PBOC) is no longer depleting the country’s $3.2 trillion foreign reserves to defend the exchange rate, and thereby tightening monetary policy as a nasty side-effect. China has the apparatus of an authoritarian state to curb capital flight, and is not shy about using it.

Continue Reading at Telegraph.co.uk…

The post China’s Leaders Are Blowing Their Last Chance to Avert an Economic Crisis appeared first on Financial Survival Network.



Source: http://financialsurvivalnetwork.com/2016/04/chinas-leaders-blowing-last-chance-avert-economic-crisis/

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