— Win Smart, CFA (@WinfieldSmart) October 23, 2023
If that’s true, there is no recovery from this. It’s a matter of time. Might be a long time or a short time, but it’s all coming down.
Contagion
$100B+ in defaults in China's property bond sector could ripple through the world economy. It might impact China's housing market, credit markets, and global investors.
Fun fact: That’s more than the GDP of some small countries!
— Nomics (@NomicsHQ) October 23, 2023
Clients withdrew $53.9 billion from Chinese Banks to offshore accounts last month, the largest capital outflow from China since January 2016 pic.twitter.com/Z7p1gbIwcF
— Barchart (@Barchart) October 23, 2023
China had a capital outflow of $49 billion in August, the largest monthly outflow in almost 8 years 🚨 pic.twitter.com/h9dXDHxC8s
— Barchart (@Barchart) October 22, 2023
h/t jlee2027