China follows the US in raising interest rates and flexing military muscle
December 11, 2018
China’s central bank unexpectedly raised borrowing rates, following the US Fed’s decision to hike. The move is noted to be another move towards deleveraging the domestic market, albeit a small move. On geopolitical front, China and Russia launch joint military exercise, coinciding with US-South Korea exercise also occurring this week in the region. Finally, provincial pensions in China are raising red flags as many are reportedly unable to meet obligations beyond next year.
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