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China’s endeavor to boost its economy through increased bond issuance has resulted in a cash crunch, as reported by Bloomberg.
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This week, banks have issued a form of short-term debt at the highest volume on record.
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Just last week, some smaller lenders were compelled to borrow short-term cash at a 50% rate.
China’s latest initiative to bolster economic growth has inadvertently led to a significant cash crunch, causing chaos in its financial markets, according to Bloomberg’s report.
In an unusual move, Beijing approved a mid-year budget adjustment last month, enabling the sale of Business Insider
