{"id":52837,"date":"2024-05-13T22:03:08","date_gmt":"2024-05-13T22:03:08","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=52837"},"modified":"2024-05-13T22:06:57","modified_gmt":"2024-05-13T22:06:57","slug":"economic-progress-with-chinese-characteristics-jim-grant","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2024\/05\/13\/economic-progress-with-chinese-characteristics-jim-grant\/","title":{"rendered":"Progress&#8230;. with Chinese characteristics | Jim Grant"},"content":{"rendered":"<blockquote><p>&#8230;.Yet as the world\u2019s second-largest economy continues to slog through the aftermath of its debt-driven economic miracle-cum-titanic housing bubble, policymakers put their best foot forward \u2013 with Chinese characteristics.  Thus, aggregate financing fell by nearly RMB 200 billion in April from the prior month, data released over the weekend show, marking the first outright contraction in that metric of broad credit availability in nearly two decades.  <\/p>\n<p>True to form, the government looks to sweep those inconvenient figures under the rug, as Bloomberg relays that seven separate research notes from local brokerages commenting on that data release were scrubbed from the WeChat social media platform as of this morning. <\/p>\n<p>Then, too, regulators have switched off live trading data showing foreign investment flows on the mainland Shanghai and Shenzhen exchanges via the Stock Connect trading link. That move, which was telegraphed in an April announcement, follows word that foreign direct investment registered at just $10.3 billion during the first quarter, down 56% from the first three months of 2023. <\/p>\n<p>~ Jim Grant, <a href=\"https:\/\/www.grantspub.com\/almostDailyHTML.cfm\">Grant&#8217;s Almost Daily<\/a><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>&#8230;.Yet as the world\u2019s second-largest economy continues to slog through the aftermath of its debt-driven economic miracle-cum-titanic housing bubble, policymakers put their best foot forward \u2013 with Chinese characteristics. Thus, aggregate financing fell by nearly RMB 200 billion in April from the prior month, data released over the weekend show, marking the first outright contraction &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2024\/05\/13\/economic-progress-with-chinese-characteristics-jim-grant\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Progress&#8230;. with Chinese characteristics | Jim Grant&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"quote","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[41],"tags":[663,881,6225],"class_list":["post-52837","post","type-post","status-publish","format-quote","hentry","category-china-hk","tag-china","tag-credit-growth","tag-foreign-investment-flows-to-china","post_format-post-format-quote"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Progress.... with Chinese characteristics | Jim Grant - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Progress.... with Chinese characteristics | Jim Grant - the patient investor\" \/>\n<meta property=\"og:description\" content=\"&#8230;.Yet as the world\u2019s second-largest economy continues to slog through the aftermath of its debt-driven economic miracle-cum-titanic housing bubble, policymakers put their best foot forward \u2013 with Chinese characteristics. Thus, aggregate financing fell by nearly RMB 200 billion in April from the prior month, data released over the weekend show, marking the first outright contraction &hellip; Continue reading &quot;Progress&#8230;. with Chinese characteristics | Jim Grant&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2024\/05\/13\/economic-progress-with-chinese-characteristics-jim-grant\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-13T22:03:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-13T22:06:57+00:00\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2024\/05\/13\/economic-progress-with-chinese-characteristics-jim-grant\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2024\/05\/13\/economic-progress-with-chinese-characteristics-jim-grant\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Progress&#8230;. with Chinese characteristics | Jim Grant\",\"datePublished\":\"2024-05-13T22:03:08+00:00\",\"dateModified\":\"2024-05-13T22:06:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2024\/05\/13\/economic-progress-with-chinese-characteristics-jim-grant\/\"},\"wordCount\":174,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"keywords\":[\"China\",\"credit growth\",\"Foreign Investment Flows to China\"],\"articleSection\":[\"China &amp; HK\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2024\/05\/13\/economic-progress-with-chinese-characteristics-jim-grant\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2024\/05\/13\/economic-progress-with-chinese-characteristics-jim-grant\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2024\/05\/13\/economic-progress-with-chinese-characteristics-jim-grant\/\",\"name\":\"Progress.... with Chinese characteristics | Jim Grant - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"datePublished\":\"2024-05-13T22:03:08+00:00\",\"dateModified\":\"2024-05-13T22:06:57+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2024\/05\/13\/economic-progress-with-chinese-characteristics-jim-grant\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2024\/05\/13\/economic-progress-with-chinese-characteristics-jim-grant\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2024\/05\/13\/economic-progress-with-chinese-characteristics-jim-grant\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Progress&#8230;. with Chinese characteristics | Jim Grant\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. 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October 19 - China Evergrande Group made its first interest payment on its corporate bonds in nearly a month on Tuesday..... However,\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1064,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/28\/cds-signaling-trouble-for-chinese-banks-macrobusiness-com-au-macrobusiness-com-au\/","url_meta":{"origin":52837,"position":2},"title":"CDS signaling trouble for Chinese banks &#8211; macrobusiness.com.au","author":"ColinTwiggs","date":"September 28, 2011","format":false,"excerpt":"Credit markets are also now showing distrust in Chinese banks. Credit default swaps spreads for Bank of China and China Development Bank have surged according to Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, and they are rising at much faster rates than the rest of Asia ex. Japan via CDS signaling trouble for Chinese banks\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":952,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/22\/china-manufacturing-data-paint-weak-picture-economic-report-marketwatch\/","url_meta":{"origin":52837,"position":3},"title":"China manufacturing data paint weak picture &#8211; MarketWatch","author":"ColinTwiggs","date":"September 22, 2011","format":false,"excerpt":"HSBC\u2019s preliminary China Manufacturing Purchasing Managers\u2019 Index, or \u201cflash\u201d PMI, fell to a two-month low in September, indicating a broadening slowdown in the Chinese economy, with industrial output swinging from a modest expansion to a deterioration. via China manufacturing data paint weak picture - Economic Report - MarketWatch.","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6107,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/11\/nomuras-fresh-alert-on-a-chinese-hard-landing-telegraph-blogs\/","url_meta":{"origin":52837,"position":4},"title":"Nomura&#039;s fresh alert on a Chinese hard landing &#124; Telegraph Blogs","author":"Colin Twiggs","date":"November 11, 2012","format":false,"excerpt":"Ambrose Evans Pritchard writes: Nomura's early warning signal for the Chinese financial system \u2013 the China Stress Index \u2013 is flashing amber again.......Its case against China: \"overinvestment and excessive credit; a rudimentary monetary policy architecture; too many privileges for state-owned enterprises; unintended consequences of financial liberalisation; the Lewis turning point;\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28663,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/11\/03\/iron-and-coal-plunge-but-copper-holds\/","url_meta":{"origin":52837,"position":5},"title":"Iron and coal plunge but copper holds","author":"Colin Twiggs","date":"November 3, 2021","format":false,"excerpt":"BEIJING\/SINGAPORE, Oct 22 (Reuters) - China's new coal output rate, hiked this week in the teeth of an energy crunch, puts it on pace to produce more of the fuel this year than ever before if the increase is sustained, according to Reuters' calculations based on official Beijing data. 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