China's May credit data will worsen due to weak demand amid deflation.

This article seems like an implicit warning against further credit weakness. However, credit is falling off a cliff NOT because nonbank financials are shifting to another source of funding, but because there is simply no credit demand in the economy given the deflationary context

— Shanghai Macro Strategist (@ShanghaiMacro) May 30, 2024

See also We need the US-Iran peace deal and strait of Hormuz to open else this crisis will spread worldwide.

See also Hassett on American consumers: "Credit card spending is through the roof. They're spending more on gasoline, but they're spending more on everything else too."