from Zero Hedge
Hopes
for an early recovery in the global economy may be overoptimistic,
according to CLSA’s Russel Napier, as he notes the expansion of China’s
reserves, which has been an engine of global economic growth, is about
to come to a shuddering halt. As eFinancial News notes,
Chinese reserves have decelerated dramatically over the last five years
and are now close to zero. Napier said of the graph: “It is the most
important chart in the world. The growth in Chinese reserves has determined all the key developments in financial markets in the last two decades. It printed lots of currency and artificially depressed the US yield curve. It has been the cornerstone of global growth, and now it’s over.”
Continue Reading at ZeroHedge.com…
Hopes
for an early recovery in the global economy may be overoptimistic,
according to CLSA’s Russel Napier, as he notes the expansion of China’s
reserves, which has been an engine of global economic growth, is about
to come to a shuddering halt. As eFinancial News notes,
Chinese reserves have decelerated dramatically over the last five years
and are now close to zero. Napier said of the graph: “It is the most
important chart in the world. The growth in Chinese reserves has determined all the key developments in financial markets in the last two decades. It printed lots of currency and artificially depressed the US yield curve. It has been the cornerstone of global growth, and now it’s over.”Continue Reading at ZeroHedge.com…
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