{"id":11884,"date":"2015-09-05T11:24:37","date_gmt":"2015-09-05T16:24:37","guid":{"rendered":"http:\/\/olduvai.ca\/?p=11884"},"modified":"2015-09-05T11:24:37","modified_gmt":"2015-09-05T16:24:37","slug":"chinas-central-bank-chief-admits-the-bubble-has-burst","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=11884","title":{"rendered":"China’s Central Bank Chief Admits “The Bubble Has Burst”"},"content":{"rendered":"

China’s Central Bank Chief Admits “The Bubble Has Burst”<\/a><\/h3>\n

In a stunningly honest admission from a member of the elite,\u00a0Zhou Xiaochuan, governor of China\u2019s central bank, exclaimed multiple times this week to his G-20 colleagues that a bubble in his country had “burst.”<\/strong>While this will come as no surprise to any rational-minded onlooker, the fact that, as\u00a0Bloomberg reports<\/a>, Japanese officials also confirmed Zhou’s admissions, noting that “many people [at the G-20] expressed concerns about the Chinese market,” and added that\u00a0“discussions [at the G-20 meeting] hadn’t been constructive”<\/em><\/strong>suggests all is not well in the new normal uncooperative G-0 reality in which we live.<\/p>\n

Surprise – The Bubble Has Burst!!<\/p>\n

\"\"<\/a><\/p>\n

But, as Bloomberg reports,<\/em><\/a>\u00a0the admission that it was a bubble and it has now burst is a notablke narrative change for the world’s central bankers…<\/p>\n

\n
Zhou Xiaochuan, governor of China\u2019s central bank, couldn\u2019t stop repeating to a G-20 gathering that a bubble in his country had \u201cburst.\u201d<\/strong><\/div>\n

It came up about three times in his explanation Friday of what is going on with China\u2019s stock market, according to a Japanese finance ministry official. When asked by a reporter if Zhou was talking about a bubble,\u00a0Japanese Finance Minister Taro Aso was unequivocal: \u201cWhat else bursts?\u201d<\/strong><\/p>\n

A dissection of the slowdown of the world\u2019s second-largest economy and talk about the equity rout which erased $5 trillion of value was a focal point at the meeting of global policy makers in Ankara.That wasn\u2019t enough for Aso, who said that the discussions hadn\u2019t been constructive.<\/strong><\/p>\n

…<\/p>\n

It was China, rather than the timing of an interest-rate increase by the Federal Reserve, that dominated the discussion,<\/strong>\u00a0according to the Japanese official, with many people commenting that China\u2019s sluggish economic performance is a risk to the global economy and especially to emerging-market nations.<\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

China’s Central Bank Chief Admits “The Bubble Has Burst” In a stunningly honest admission from a member of the elite,\u00a0Zhou Xiaochuan, governor of China\u2019s central bank, exclaimed multiple times this week to his G-20 colleagues that a bubble in his country had “burst.”While this will come as no surprise to any rational-minded onlooker, the fact […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[122,130,303,305,344,366,7195,6465,2914,2615,669,6537,1031,4318,4521],"class_list":["post-11884","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-bank","tag-china","tag-fed","tag-federal-reserve","tag-g20","tag-global-economy","tag-market-bubble","tag-new-normal","tag-pboc","tag-peoples-bank-of-china","tag-reality","tag-shanghai-composite","tag-yuan","tag-zerohedge","tag-zhou-xiaochuan"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/11884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11884"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/11884\/revisions"}],"predecessor-version":[{"id":11885,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/11884\/revisions\/11885"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}