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The Different Types of Stimulus in China
In the US, it's not with the exception of PPP where the US sort of did backstop commercial credit. But in China, they can, right? Because they're a state owned banks,. So what does that look like in China? It means everything from lowering the reserve requirement ratio for banks so that they can lend more cut the interest rates. They'll use anything they can at their disposal to make it happen. The reason I was talking about 2017 and 2018 though was because one of the things that happened when they were regulating the tech companies, all that other stuff, they also said to the property developers: We don't want you to keep doing things the way you were doing