© Feng Yu china
© Feng Yu

THE HEISENBERG writes: “Call me naive, but I’m still not 100% convinced there’s a “limit” to how much China can do when it comes to pulling various fiscal and monetary policy levers to juice the economy. Do note that there’s a difference between saying Beijing’s bag of tricks is basically bottomless and saying those tricks will work when it comes “reflating” – as it were. As Goldman wrote last week, the credit transmission channel in China clearly needs some ‘unclogging.’”

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