|China Watch: Debt Binge Imploding!|
big trouble in china. well informed china watchers have opined that:
1. the recent chinese 5 year convention thing would give xi new powers. that indeed happened with his thoughts elevated to the highest level in required teachings (equal to mao, who is still on the currency. remember the cultural revolution?) and the absence of a successor being identified.
2. after his apotheosis he would clean up and clean out the shaky debt and graft structure. he has just officially okayed the death penalty for corruption.
1. see this timely post on the bond market collapse at zman's site: Message 31327304
2. once the unraveling start it can be hard to stop.
3. how this relates to global growth: bloomberg.com
watch for ugly to get much uglier after trump's 12 day asia trip, though i expect to hear more bull like this bloomberg.com before/during the visit. lol/rotf. note the "unprecedented reform" sounds a bit ominous.