We noted yesterday that China (along with the US) would spark world growth - the Engine That Could. Today’s a good start - higher than expected Ind Prod. We also noted that the risk was for the Bk of China to brake. They did that today as they announced higher reserve requirements (forcing the banks to set aside more cash in reserves) after a 5.5% annual inflation print. But no risk the Bk of China will kill the goose, simply contain it.
Robert Craven
Robert Craven
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