@LukeGromen @CFA_Life @KYRRadio @imetatronink @SantiagoAuFund @VictorCleaner @mortymer001 @cjenscook @pkenary @TonyYin11897410 @Barton_options @MMTGoldbug @EVMacro @EstabidoG @GS_CapSF @spima18 @siddiqui71 @MarkGutman9 @JeffSnider_AIP @MacroVoices @RaoulGMI @GHBurnsCFA @MacroMorning @gamesblazer06 @DeepThroatIPO They understate the number, and overstate the reserves.
"China doesn’t include the debt of offshore entities when calculating foreign liabilities and this is in line with global standards, according to the State Administration of Foreign Exchange. @LukeGromen @CFA_Life @KYRRadio @imetatronink @SantiagoAuFund @VictorCleaner @mortymer001 @cjenscook @pkenary @TonyYin11897410 @Barton_options @MMTGoldbug @EVMacro @EstabidoG @GS_CapSF @spima18 @siddiqui71 @MarkGutman9 @JeffSnider_AIP @MacroVoices @RaoulGMI @GHBurnsCFA @MacroMorning @gamesblazer06 @DeepThroatIPO According to Kevin Lai at Daiwa, the real number (including HK) is nearing 4T. Also, more than half matures in under a YEAR. Then there are the USD they have borrowed to fund 'official' loans (PBOC, CPP and SOE)-- to the developing world. Those loans are unreported