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Get really worried about China when this happens
Could China be the next Greece? It’s unlikely ever to get that bad but the Research Director of Forex.com, Kathleen Brooks says that if we get another year of weak growth in the Chinese economy there’ll be real worries for the rest of the world.
This week, China cut its benchmark lending and deposit rate by a quarter of one percent; it’s the third cut in six months. Kathleen says clearly there are big problems in the Chinese economy. She doesn’t think such a cut will have a great impact and believes we should expect a lot more stimulus measures in the coming months. She also reflects on the fact that Beijing is trying to lower rates yet we’re seeing yields rise in Europe and America and what that could mean for traders.
01:43 minutes
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