Shadow Banking Crunch & Soros Foundation Shifts Focus
Bloomberg Daybreak: Europe Edition
00:00
Chinese Rebound Fizzles and Actions by the People's Bank of China
This chapter discusses the fizzling of the Chinese rebound after the COVID-19 pandemic, with disappointment in consumer spending and falling prices. It questions the lack of interest rate cut and explores the actions taken by the People's Bank of China to support the economy. The chapter also emphasizes the importance of managing the velocity of currency moves and the myth of a free-floating currency. Additionally, it mentions various worrying news in the Chinese economy, such as missed payments in the shadow banking sector and issues in the property sector.
Transcript
Play full episode
