The chart of the week is courtesy Bloomberg and shows the maniacal credit boom in china. The credit to GDP ratio in China has breached historical levels and has entered into dangerous territory eclipsing levels seen before recent busts in 2008 and 2015. Another hard landing looks certain:
Evergrande Founder Hui Fined For Falsifying $78 Billion In Revenues
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The founder of troubled property developer China Evergrande is fined by the
country’s securities regulators for financial fraud to inflate the group’s
reve...
12 minutes ago