Stocks and futures dropped across Asia, Europe, and the United States on Tuesday due to growing anxiety about the Chinese economy and the Communist regime’s refusal to deal honestly with its systemic problems.
The trigger for Tuesday’s stock slide was China announcing a much smaller interest rate reduction than anticipated. Reuterseconomists who found Beijing’s policy moves profoundly disappointing, although some held out hope for strong action after the next Politburo meeting in July:
Analysts at BofA global research said in a note that “such marginal easing” would likely help prevent growth from slowing sharply, but was “unlikely to offer a strong boost to reverse the growth slippage in the near future”.bigger rate cuts were withheld for political reasons, specifically the reluctance of the Chinese regime to promote real estate speculation:
While that was in line with the reduction in the PBOC’s policy rates last week, some economists had predicted a bigger reduction of 15 basis points in the five-year rate, a reference for mortgages, to support the ailing housing market.
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