China Shuffles Its Debt Around - Bloomberg
...By tonnage, iron-ore futures trading on July 31 exceeded China's entire iron-ore output for all of 2016. ...
...True deleveraging will require some painful steps, such as denying businesses new funding, letting more companies fail and accepting the potential increases in unemployment that result. That won't be fun for anyone, but it will signal -- as nothing else has -- that China is finally serious about these problems.
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