China is taking steps towards financial autonomy.

Quick Summary:

The time has come for the Chinese authorities to take the monetary levers to generate higher nominal GDP growth.

The valuation of US equities, as measured by the Shiller price/earnings ratio, moved to a higher plateau under this monetary system and both private and public sector gearing rose to new highs relative to GDP.

The excess domestic liquidity created by PBoC foreign exchange intervention was channelled by the Chinese state banking system to fund investment and higher production at the expense of consumption.

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Article Details

Author / Journalist: Russell Napier

Category: MarketsFinanceInvesting

Markets: United StatesChina

Topics: Financial World Debt Exchange Global Higher Rate Monetary Growth China System

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-18 @ 00:00:00 (1 weeks ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 814 words

Reading Time: 5 minutes read

Sentences: 34 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 20717163

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About Financial Times

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

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