FAST FIVE: Rabobank: Are Commentators Still Under The Illusion China Has A Market-Based Financial System
Meanwhile, China has been showing the world exactly what a reliable free-trading partner it is by banning Australian coal indefinitely, which knocked AUD almost as much as two RBA rate cuts in 2019 being predicted by a local guru (no, not me: I got there first but don't move markets Down Under).
Treasurer Frydenberg cautioned against “jumping to conclusions” that the ban had anything to do with Huawei (or stripping residency from a certain influential pro-Beijing individual?) and reassured that Australian exports to China “will continue to be strong”.
Yes, there certainly would; and as things are playing out, yes there certainly will.
In China itself, the PBOC is also arguing that it doesn't need to cut rates.
Not unless the brave new Independent Group swells from 11 to well into the triple figures by then: and if you believe that then I have a Chinese-built bridge to sell you.