A ticking time bomb in China has global markets looking really shaky right now

China’s current account balance is down significantly from last year’s 1.3% and will likely turn into a small deficit in 2019. If so that would be the first time in 24 years.

“The larger the stimulus used by China to offset the trade war impact, the bigger will its deficit likely be,” UBS’s Tao Wang, chief China economist, said in a report on Tuesday.

That may hurt confidence and hasten outflows, putting pressure on the nation’s currency…

 

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Posted in: Daily News

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