China’s Latest Economic Stimulus Sparks Financial Market Chaos as Short-Term Rates Soar to 50%

Xi Jinping

Chinese President Xi JinpingReuters/Pool

  • China’s endeavor to boost its economy through increased bond issuance has resulted in a cash crunch, as reported by Bloomberg.

  • This week, banks have issued a form of short-term debt at the highest volume on record.

  • 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


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