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Demystifying the Latest Data: NCUSCR’s Orlins Interviews Leland Miller

The National Committee held an event on March 25, 2021 with Mr. Leland Miller, where he explored the latest developments in China’s economy and their impact on the Sino-American relationship and Biden administration policy.

@ChinaBeigeBook

The stimulus miss flummoxed analysts even more than the wrong retail bet. But again CBB data had been showing that a return to broader easing was never in the cards, with Q3 borrowing still hovering near multi-year lows, demand for loans muted, and interest rates rising.
6/n

Wall Street’s bet that China will soon loosen monetary policy have been dashed yet again. September loan growth fell to its lowest level since 2002 and credit expansion has slowed nearly all year.

Why have projections of big-bang stimulus fallen flat? 🧵
https://www.barrons.com/articles/wall-street-is-missing-the-china-growth-story-again-51634676003

"Suppliers to #Huawei & #China's top chipmaker #SMIC got billions of $ of licenses from Nov-April to sell the cos goods & technology despite being on a 🇺🇲 trade blacklist...113 export licenses worth $61B were approved for Huawei & 188 worth $42B for SMIC"
https://www.reuters.com/business/us-house-panel-grants-request-disclose-data-blacklisted-firms-2021-10-21/

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China Beige Book provides institutional investors and corporate decision-makers with market leading insights derived directly from our nationwide proprietary data on the Chinese economy.