JACK RASMUS: The past year the US and global ‘real’ economies have
enjoyed a moderate recovery. Much of that has been due to China
stimulating its economy to ensure real
growth in anticipation of the Communist Party’s convention, which has
just ended. China’s president Xi and central bank (Peoples Bank of
China) chair, Zhou, have announced, post-convention, that China’s real
growth will slow and have warned a global ‘Minsky Moment’ (i.e.
financial crisis) may be brewing. China will now try, once again, to
tame its shadow bankers and speculators who have been feeding China’s
debt and bubbles, and prepare for the global financial instability that
is brewing.
