Chinese banks CLOSING Loan Books Most On Record

China just held its National People's Congress amidst more economic and financial turmoil than at any time in its modern history. Two things quickly became clear: Xi Jinping continues to insulate himself politically from any potential fallout; his government has no idea what to be about it. The latest data from Chinese banks and the country's housing market highlight the gravity of the situation  and how little policies are helping. Eurodollar University's Money & Macro AnalysisPeople's Daily Graphic and Text Databasehttp://paper.people.com.cn/rmrb/html/2024-02/02/nw.D110000renmrb_20240202_3-03.htmChina State TV The Opening Meeting of the Second Session of the 14th NPChttps://www.youtube.com/watch?v=nL7iqyx-dBABloomberg China Vanke’s Dollar Bonds Signal Fears of Default Down the Roadhttps://www.bloomberg.com/news/articles/2024-03-13/china-vanke-s-dollar-bonds-signal-fears-of-default-down-the-roadBloomberg China Sets GDP Goal That Needs Policy Support ‘From All Fronts’https://www.bloomberg.com/news/articles/2024-03-05/china-s-gdp-growth-target-this-year-set-around-5-reuters-sayshttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU