China’s central bank just shocked markets with several impressive sounding stimulus measures, causing the biggest one-week rally in Chinese stocks since 2008. But how effective is this stimulus actually going to be to the Chinese economy? Leland Miller, co-founder & CEO of China Beige Book, joins Monetary Matters to weigh on this very important issue. Leland says he thinks the rally in Chinese stocks could continue for up to two months but that the effect on the Chinese economy will be to stabilize rather than to stimulate. Recorded on September 27, 2024.
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Timestamps
00:00 A Shock From The East
03:07 How Effective Will the People's Bank of China (PBOC)'s Actions Be In Stimulating Markets and The Economy?
7:51 The Controlled Implosion Of The Chinese Real Estate Bubble
15:30 Why Is China Bailing Out (Or Appearing To Bail Out) Its Own Stock Market?
19:48 Beijing Wants Economic Stabilization: It Is No Longer Pursuing High Growth At All Costs
22:41 Leland's Contrarian View: The Chinese Economy, While Not Strong, Is Not As Bad As Many Think
24:56 China's Balance Sheet Recession
29:28 China's Extraordinary Growth In Advanced Manufacturing
33:04 Will China Do Fiscal Support?
42:07 Why Leland Miller Thinks The Chinese Man-Made Implosion Of The Property Market Is Actually A Good Thing
45:56 Will There Be More Real Estate Bankruptcies? Why Leland Won't Touch Developer Bonds With A 10 Foot Pole
47:20 The Chinese Banks, Who Have Many Bad Real Estate Loans
54:30 Are There Potential Investment Opportunities (Not Trades) In Chinese Stock Market?
57:08 Trade War Between China and United States
1:01:22 China Is Exporting Deflation To The Rest Of The World
1:14:10 Leland's Predictions About First Week of October 2024
#investing #recession #stocks #economy #trading #inflation #china #economics #centralbanks #monetarypolicy #gold #geopolitics
