going to try to do it a lot more gently. They're not going to be able to do it gently. There is no solution to this problem. And even if there was, the Chinese way is to throw an enormous amounts of credit at it. So you're going to see a lot more credit going in the economy. You're going to see a discussion about backtracking into heavy infrastructure stimulus. And you're going to see some very, very difficult decisions being made over who gets the available credit and who gets left out. Because no matter how generous they want to be and no matter how much they want to support everybody, they're not going to be able to. It will be impossible. They cannot backstop everyone and everything. So there are going to be losers in this and those losers are going to do very poorly over the next year. So this is the decision tree that's being worked out in Beijing right now. Who are the losers there could be? This is tough. So I have another question here, which is how is China going to get the (39/57)
You are viewing a single comment's thread from: