Once again, zero fiscal stimulus out of Beijing. Ignore the headlines and all the talking heads that focus entirely on the top line number.
As expected, what was announced was a massive local government debt restructuring program. The priority is to clean up “shadow banking” finances.
Left pocket is just paying the right pocket. Zero stimulative effect.
China announces $1.4 trillion package to tackle local governments' 'hidden' debt https://www.cnbc.com/2024/11/08/china-expected-to-announce-highly-anticipated-fiscal-stimulus-package.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
prc30 / Peter Alexander
npub1yy…4kawc
2024-11-08 10:18:44
Author Public Key
npub1yy3uc7y85faxy5cwq8f574yda3j9457p7r9h2ymlkwlx6lp8f4vsy4kawcPublished at
2024-11-08 10:18:44Event JSON
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"content": "Once again, zero fiscal stimulus out of Beijing. Ignore the headlines and all the talking heads that focus entirely on the top line number. \n\nAs expected, what was announced was a massive local government debt restructuring program. The priority is to clean up “shadow banking” finances. \n\nLeft pocket is just paying the right pocket. Zero stimulative effect. \n\nChina announces $1.4 trillion package to tackle local governments' 'hidden' debt https://www.cnbc.com/2024/11/08/china-expected-to-announce-highly-anticipated-fiscal-stimulus-package.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard",
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