Macro Outlook: Steady As She Goes on Deleveraging

The recent Politburo meeting on July 31 reaffirmed Beijing’s priority of containing China’s debt, focusing on state sector and local government deleveraging. Beijing will primarily use administrative measures, and to a lesser extent financial regulation, to contain financial risk for the rest of 2018. While monetary policy will continue to be modestly accommodative, the d … http://bit.ly/2Dz6hPD

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