China Proposes to Cut Two Thirds of Its $3 Trillion in USD Holdings

Tyler Durden zero hedge 4/24/2011

All those who were hoping global stock markets would surge tomorrow based on a ridiculous rumor that China would revalue the CNY by 10% will have to wait. Instead, China has decided to serve the world another surprise. Following last week’s announcement by PBoC Governor Zhou (Where’s Waldo) Xiaochuan that […]

Hidden Losses And Little Reform: China May Be Slowing More Than You Think

Mike “Mish” Shedlock Business Insider 4/4/2011

In his latest Email review, Michael Pettis at China Financial Markets discusses financial reform (actually the lack thereof in China), as well as an observation on China’s Growth.

Pettis writes ….

Three months ago during their 2010 Q4 conference, the PBoC said that they believed that the global economic […]