There is a bubble in the Chinese government bond market — or so, at least, the People’s Bank of China would fervently like to believe. A bubble would be a worrying risk to financial stability. The existence of such a risk, however, is far more palatable than the plausible alternative: that bond markets are sending out an increasingly dire signal of concern about the prospects for China’s economy, the danger of deflation and the need for a change of course.
manbetx3.0 政府债券市场存在泡沫——至少manbetx3.0 央行(PBoC)热切地希望相信这一点。泡沫会对金融稳定构成令人担忧的风险。然而，这种风险的存在远比另一种可信的情况更容易接受，那就是债券市场正发出越来越可怕的信号，表明人们对manbetx3.0 manbetx20客户端下载 前景、通缩的危险以及需要改变方向感到担忧。
您已阅读9%（590字），剩余91%（6283字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。