A tale of two Chinas

Why being positive on Chinese macro and the big four banks, but bearish on the rest of the financial sector, is not a contradiction in terms. It is possible, then, to think that China is doing fine while its smaller banks are in a world of trouble. At both a macro and micro level, China is performing: GDP growth exceeded market expectations for the first half, even some … http://bit.ly/2gUq5zL

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