Another bad sign for the global economy. Even China is not spared although some "analyst" is touting her "immuned" from the crisis.
I don't think the Chinese believe in the "Bail Me Out Culture". This must be an act of desperation to prevent some ugly financial domino effect. They already cutting rate aggressively but this latest move proves that is still insufficient.
They are running out of good moves just like the US FEDs.
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