Control/G20 & Trade Wars/Jobs/Market Reform/Consumers

China Macroeconomics & Academia

Christopher Balding

Macroeconomics

<p>China’s credit crunch is deepening. The PBOC has already lowered bank reserve rates this year and yet data continues to tell us that this may not be enough. So let’s break down what China’s own data on credit is telling us. First off, new total social financing (TSF) is down strongly this year.</p>

China’s credit crunch is deepening. The PBOC has already lowered bank reserve rates this year and yet data continues to tell us that this may not be enough. So let’s break down what China’s own data on credit is telling us. First off, new total social financing (TSF) is down strongly this year.

The Credit Crunch