China Cash Crunch Already Being Felt on the Ground
There are already signs of distress among Chinese businesses stemming from tighter liquidity conditions in the world’s second largest economy, according to the China Beige Book’s survey for the second quarter.
“Firms are telling us that rates are going up, and have been for three quarters. And borrowing is going down,” Leland Miller, president of U.S. based China Beige Book (CBB) International told CNBC Asia’s “Squawk Box” on Tuesday. [full story…]