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Surveillance: China Regulation with Miller
Leland Miller joins Bloomberg Surveillance to discuss Evergrande’s lessons beyond “Not Lehman!” and the rising risk for offshore USD bonds.
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
RRR cuts not needed before & not needed now. Useful when banks need $ to feed ⬆️loan demand from under-served cohorts like SMEs, not—like now—when SME loan demand is nr record lows.
Only reason so much RRR talk is that research shops robotically predict them when data seem weak. https://twitter.com/lfeagan/status/1449967972588654595
A point @ChinaBeigeBook has been hammering home all year. Our Q2 Retail report, titled 'Another False Retail Dawn', showed how the sector's fortunes were weakening across every indicator from revenues and sales to prices and profits, counter to expectations of a consumer rebound. https://twitter.com/SergiLanauIIF/status/1450082993561915394
Whenever we toss out a potential medium term growth # like 2% it blows out analysts' eye sockets. "But this is #China!" Yet agree that should be the rough # against which optimal stewardship of the economy shld be based. Most analysts have the grading curve exactly backwards. https://twitter.com/michaelxpettis/status/1450043209585885187
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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.
