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It all started with Qin Gang, China's foreign minister, who disappeared in June. This was followed by changes in other key positions, including the Governor of the People's Bank of China. pic.twitter.com/usyVBrzT7p— Jeffrey P. Snider (@JeffSnider_EDU) November 1, 2023
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💡 Remember, political stability is crucial, especially when the economy is involved. China's role in the eurodollar system and global markets means any internal instability could have worldwide effects.— Jeffrey P. Snider (@JeffSnider_EDU) November 1, 2023
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Shockingly… Li Keqiang, a key figure in China's economy, passed away "unexpectedly", fueling speculation about the pressures within the Chinese Communist Party.
(the same guy who repeatedly faced off against Xi Jinping’s handling of the economy) pic.twitter.com/GQBp1IDa2F— Jeffrey P. Snider (@JeffSnider_EDU) November 1, 2023
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On the economy front, China's real estate woes are a telling sign of deeper troubles, as seen with the default of Country Garden's Eurobond. The fallout? Massive implications which are showing an escalating eurodollar shortage.. pic.twitter.com/HnVzpKtUPn— Jeffrey P. Snider (@JeffSnider_EDU) November 1, 2023
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To sum up, we must ask: What the hell is going on in China? The disappearances and unexplained deaths of political leaders are almost certainly symptoms of a potentially deeper crisis, all of it related to eurodollar influences – both short and long run.— Jeffrey P. Snider (@JeffSnider_EDU) November 1, 2023