Blog di Alberto Forchielli 23/6/2012, 23 giugno 2012
China’s interest rate cut on June 7, the first since 2008, is just the beginning of a long process of bringing down the cost of money
China’s interest rate cut on June 7, the first since 2008, is just the beginning of a long process of bringing down the cost of money. The Chinese economy is in much bigger trouble than official figures show. The slowdown is being felt in China already, the credit crunch of the last couple years has been hard, and the Chinese certainly did not expect the Euro crisis. These combined factors have forced the Chinese authorities to backpedal to prevent the economy from stalling. The real benchmarks of growth are energy consumption, container movements, and coal use, all of which are actually lower than official estimates.