Raising rates, clashing with the U.S. over the Lama (central to their view of sovereignty is a unique view of human rights, or lack thereof). "Human Rights" are largely a Western construct and the continued expansion of this set of rights is something the Chinese authorities view as encroachment upon their rights as sovereign. Its a different set of rules and the Chinese do not wish to play that game.
Feb. 12 (Bloomberg) -- China ordered banks to set aside more deposits as reserves for the second time in a month to cool the fastest-growing economy after loan growth accelerated and property prices surged.
The reserve requirement will increase 50 basis points, or 0.5 percentage point, effective Feb. 25, the People’s Bank of China said on its Web site today. The current level is 16 percent for big banks and 14 percent for smaller ones.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment