Chinese credit surge goes bust

Monday 11 March 2019

Hello growth problem. Chinese new yuan growth for February was out overnight and the credit surge of January landed on the credit bust of February with total social financing up a lousy 703bn yuan:

Shadow banking shrank:

The three month moving average is still up 17% year on year:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.