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The news of the week is NOT the Fed cutting 50 bps - yes sure, that’s important but there is something much more relevant going on.
The Chinese economy keeps imploding from within.And we should pay attention.
The Property Price Index for Chinese tier-1 cities keeps making new lows, and it’s now approaching levels last seen 8 years ago!
At this point you might ask yourself: well, is it so bad if house prices drop a bit?
In standard circumstances I’d tell you this is not a disaster.But for Chinese people, things are different:
Chinese households hold 60%+ of their wealth in Chinese…
Website: themacrocompass.substack.com
