Graham’s note: this is an excerpt from a recent client note I sent out regarding the situation in China. The impact of the coming change will be dramatic both in terms of its impact on Europe (China’s single largest trade partner) and the US with whom China is fast developing a trade war.
Most of the rally in China’s markets over the last few months stemmed from the belief that China was going to begin monetary easing again in order to soften its economic slowdown.
Risk Of
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