Maybe the reverse? China has a lot of hidden debt on the books. The west did QE its way, via central bank balance sheet, whereas in China, every public bank is like the Central Bank, many many ways to do QE. When you have a lot of debt on the balance sheet, you can't tolerate inflation. The 2 policies were coordinated: the West raised rates, squeezing it's people, China squeezed demand more directly, containing/confining its people in-place! Really the same cycle of rate tightening demand management?
China has had many protests led by heroic students and workers. But the country will never be able to achieve the aims of the May Fourth enlightenment -- to adopt science and democracy and join the modern world -- until tens and hundreds of millions of China's prisoner subjects abandon all illusions in their so-called government and take to the streets to overthrow the feudal fascist Stalinist CCP.
The timing is also critical. Protests took place at the time when the economy is losing momentum.
Maybe the reverse? China has a lot of hidden debt on the books. The west did QE its way, via central bank balance sheet, whereas in China, every public bank is like the Central Bank, many many ways to do QE. When you have a lot of debt on the balance sheet, you can't tolerate inflation. The 2 policies were coordinated: the West raised rates, squeezing it's people, China squeezed demand more directly, containing/confining its people in-place! Really the same cycle of rate tightening demand management?
China has had many protests led by heroic students and workers. But the country will never be able to achieve the aims of the May Fourth enlightenment -- to adopt science and democracy and join the modern world -- until tens and hundreds of millions of China's prisoner subjects abandon all illusions in their so-called government and take to the streets to overthrow the feudal fascist Stalinist CCP.