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Godfree Roberts's avatar

"Chinese banks are rapidly deleveraging their dollar balances”. What, exactly, was leveraged?

"Sanctions imposed on Russia may have panicked Chinese monetary authorities into directing the reduction in dollars held in their system”. Given that Elvira Nabiullina and Yi Gang talk weekly (their new reserve currency, ruble support, eliminating dollars in trade), this seems unlikely.

"There has long been a suspicion that Chinese lending to emerging economies came with unpalatable conditions”. Happily, we now know that the 'suspicion,' which was suspected by the hopelessly mendacious USA, was groundless. See the work of Johns Hopkins' Debora Brautigam et al on this.

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