Chart/quote (CS): "Chinese mills are losing over RMB 300/t, yet despite negative margins exports are still rising". pic.twitter.com/sjnZT7mvlp
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SCMP has a new article today about the Chinese bond bubble that you'd like.
ReplyDeleteThese people are just going to increasingly irrational assets - first overpriced property, then useless remote property, then fake businesses, and now low-cov loans to bankrupt companies and local governments. It is as if the madness never ends!
But I think the speed with which they flop from one asset to the next is so great that it is representing a conflagration of the monetary system. This is deeper than just too much liquidity, I think this is indicative of a loss of confidence in money itself. I'd love to say the end game is near (how could it not be?), but thus far I've been wrong for 4 years and counting.
http://www.scmp.com/business/markets/article/1865156/chinas-bond-market-bubble-may-be-unsustainable