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Wall Street Keeps Overestimating China's Macro Data
Market Depth
Goldman Cuts China Banks to Sell Rating
Goldman Sachs downgraded Chinese banks and state-owned banks to sell because of their inescapable exposure to the property sector. This isn't just a call on bank stocks, this is a state policy outlook that they made for them to make this downgrade. And it seems that Goldman actually might be onto something because as soon as they publish these sell ratings, and they put them out there, Goldman started to get immediate backlash from China's state media.
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