I have been warning about Inflation in China for some time now. But the situation is getting pretty bad. There have been stampedes to purchase half price cooking oil which have injured nineteen people. Before this, three people were trampled to death when a store offered 20% discount on rapeseed oil and people just invaded the store. Given that the Chinese government is now freezing lending in many sectors, it will have a significant ripple effect across the world.
Not happy and curiously, no multi-lateral institution is seeing this. The closest I can think of is the BIS, the Bank of International Settlement, or the World Bank. But there is not even a peep from either. Why are they sleeping?
No comments:
Post a Comment