In this briefing:
1. Trade During Lunar New Year
An underlying issue regarding February data is just how pressurized it is. Between cross armed speculations about trade talk negotiations and the biggest Chinese holiday, it should come as no surprises that February data is underwhelming. Chinese markets are still grappling with a way forward in the trade talk quagmire, but February numbers are in many ways seasonal, due to the holiday snapshot it encompasses.
2. Why China’s Stimulus Will Disappoint
By Lawrence Brainard, Chief Emerging Market Economist at TS Lombard
- In a Chinese version of QE the PBoC is flooding markets with liquidity
- Commercial banks will be slow to use it to boost lending to SMEs
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