China’s Economic Recovery Masking Financial Risks, Fitch Says … Are We Heading Back Into China Markets Turmoil? … -Bloomberg
China is run by a communist party but its policies are increasingly mercantilist and reminiscent of European and US strategies.
Whether the world is run out of Washington or Beijing, the economic, political and military approach is increasingly similar.
China is in better shape financially than the West because of its central bank’s emphasis on buying and retaining gold. China probably has at least several thousand tons of gold stored on the mainland, though officials will only admit to around 1,000 tons.
In fact, China just announced that it would create its own price fix for gold to compete with prices set in London. Additionally, the price fix will not be convertible to dollars.
But China’s debt driven economic policies at the federal level are just as reckless as…