Authorities realize the situation is beyond critical, but what else can they do?

Jul 26, 2023

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#dollar #cny #currency #deflation #recession #china
China's PBOC FX interventions by themselves aren't having much luck which is why the central bank has directed commercial banks to assist, including earlier today with an aggressive push. The market weakness in the currency like the intervention is a warning of big problems and not just about China. Those were likewise acknowledged by the politburo in its mid-year assessment which offered little by way of solutions to these vexing and "grim" conditions.

Eurodollar University's Money & Macro Analysis

Xinhua: CPC leadership holds symposium to seek advice on economic work
https://english.news.cn/20230724/a8ddc909cf8d4f1d96d1c44e67c99ff4/c.html

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