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Economist Richard Koo, who coined the term 'balance-sheet recession', says China is now in one. He argues the country needs to ramp up fiscal stimulus quickly to address it.
A prolonged Chinese slowdown would weaken demand for feed grains, meal and meat, but the comment is an analyst view rather than a new policy action, so the price impact is indirect.
bloomberg.comTom HancockJun 29, 2023After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
