Chinese banks are now trapped, which is why China has finally entered an era of full-blown extend and pretend. It’s been on the edge of it for some time, but recent data and information out of the country show the banking sector has crossed that threshold into the low-rate trap, which has squeezed profitability and left banks to bleed cash. So, more grim lending and credit data from China’s central bank just confirms everything, including the trap having been sprung.
Video Length: 00:18:33
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