#PBoC

Michael Pettis

michaelxpettis

1/4For nearly two years I've argued that we were going to see substantial increases in portfolio and FDI inflows into China, and so we are – to the point where

DC

AnalystDC

While I was distracted with the $GME drama, it appears that not all has been calm in China's repo market, with repo rates in the overnight market spiking to levels

Brad Setser

Brad_Setser

My "shadow intervention" alarm bells are starting to go off --Something is happening in China. The July trade surplus (goods) was $60b. Per my @ExanteData friends (in market

adam wolfe

adamkwolfe

There’s something strange going on in China’s fiscal accounts. Net bond issuance has run well ahead of the deficit. It seems that policymakers changed their minds in July about the

Michael Pettis

michaelxpettis

1/7I was wondering just how long it would take before the PBoC responded to Sunday’s fairly harsh criticism of its regulatory oversight by former Finance Minister Lou Jiwei. It took

Glenn Luk

GlennLuk

I think it has to do with these recently proposed regulations regarding minimum capital requirements for fintech companies by the PBOC and CBIRC: https://www.regulationasia.com/pboc-cbirc-issue-draft-rules-for-small-loans-businesses/ https:

Alex Etra

EtraAlex

The IMF does some great work and the latest China Article V has a lot to admire (as usual). But I am a bit confused about some of the BoP

Michael Pettis

michaelxpettis

1/10This is a really tough problem to resolve, especially if the massive increase in inflows from the trade and financial accounts are sustained, as I expect they will be well

DC

AnalystDC

Quick update: With the month end balance sheet seasonality now past, o/n repo rates in China have dropped back in the PBOC target range, though they remain somewhat elevated. This

Invisible Fist

matrbk

This chart is telling you that Eurodollar lending by Japanese banks to China is as high as it’s going to get. This supports the theory that China has been intervening

Michael Pettis

michaelxpettis

1/5Growth in Chinese debt continues to be very high. According to data released today by the PBoC, aggregate financing in China was up RMB 3.6 trillion in August, more than

Adam Townsend

adamscrabble

Thread on Chinese Currency Manipulation. You're going to like this. I had a question for my analysts, what does it mean "China is manipulating its currency?" I've distilled their answer.

General Theorist

GeneralTheorist

Central bank digital currencies (CBDCs) are something I have been putting off engaging with, but over the past week have come to take this seriously thanks to Ex Ante’s Grant

Chang-Yu Chang

changyu_chang

Excited to share our preprint on Directed evolution of microbial communities!! https://www.biorxiv.org/content/10.1101/2020.07.24.214775v2.full.pdf+html No work can describe how much I enjoyed working with co-first @Oxfordvila and @asanchez

IIF

IIF

THREAD | Research Round-up A look at the week’s research from the IIF, including: A surge in #globaldebt, reaching a record-high 331% of GDP ($258T) in Q1 2020

GnS Economics

GnSEconomics

China bank failure fires warning shot at financial marketsLiquidation of the municipal lender raises borrowing costs for small peers and push more of them on the brink #Economy still wobbling,

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