As usual, a very good piece from Michael Pettis on China. Must read if you have not already.
Somewhat in line with my previous posts on this (esp the motivation behind the devaluation, the risks of capital flight and the re-distributive nature of different choices, see here and here). He does not talk much about risk assets though.
Somewhat in line with my previous posts on this (esp the motivation behind the devaluation, the risks of capital flight and the re-distributive nature of different choices, see here and here). He does not talk much about risk assets though.
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