China’s ports are humming, its exports booming to the point that it is causing evident stress in maritime trade. Freight rates are soaring and dockside space is becoming limited, threatening production and raising costs across the board. Despite the macro strength – and the vote of confidence this has received from forex and equity markets – the last few weeks have been testing ones in credit. Once more the nation’s vast superstructure of debt has creaked and groaned – but just about held firm, once more. One of these fine days…
Tag Archives: renminbi
Reuters’ story that SAFE told its banks they should be as obstructive as possible in meeting customer demands for foreign currency, but should absolute not divulge the reason why, certainly succeeded in causing a stir in markets.