Chinese Firms Dump $40 Billion In Global Assets, Turn Net Seller For First Time In Decades
Certainly a change from the last few years.
(From Zerohedge)
The decision to divest foreign assets was handed down from the party leadership a few years back as theBank of China and China’s other economic authorities scrambled to shore up their dollar reserves and lower corporate debt. Now is a particularly precarious time for Beijing, which recently recorded the first default of a local government financing company, adding to concerns that the Chinese economy could crumble like a house of cards as it pumps credit back into the economy.
Reprinted from: https://www.ac2news.com/2019/09/chinese-firms-dump-40-billion-in-global-assets-turn-net-seller-for-first-time-in-decades/
