◎ The central bank’s injections suggest that it does not have enough collateral to print money.
◎ Based on our estimate, implicit debt in some cities and counties was three to four times higher that of their public debt.
◎ The Sino-U.S. trade war is underway. And China lacks “ammunition.”
◎ There are two reasons why the Xi administration appears to be motivated to open up China’s economy.
◎ Industrial profits had in fact fallen 6 percent year-on-year.
◎ NBS data actually indicates that China’s economy is worsening all-round.
◎ A national database could be used to facilitate the investigation of corrupt officials.
◎ The renminbi devalued and property prices soared on three previous occasions when China resorted to irregular injection of liquidity.
◎ CERCG defaulting sends a different signal from the defaulting of private Chinese companies.