PremiumBeijing Unleashes Record "Plunge Protection" Buying To Prop Up Stocks, Avoid Signaling Weakness In Trade War
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China and the US have found themselves in a peculiar standoff: yes, both are engaged in a tit-for-tat escalating trade war (the worst kind, as diplomatic offramps are no longer an option and a full blown capitulation will be eventually required), and as of this morning, the trade war appears to be escalating into currency war as the offshore yuan crashed to an all time low...
... with much more coming as we previewed several days ago, but for now what matters is optics and posturing.