Danny Gabay, a former Bank of England economist, says China's growth rate has slowed to about 3%
- Says the People's Bank of China will eventually cut its benchmark rate to zero (from the current 4.35%) and begin buying assets
- Politicians will ease fiscal policy and step in to support banks
- Says the yuan to slide further (probably between 2 and 3% a quarter for the next two years, ultimately by about 25%)
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More at Bloomberg if you need a dose of pessimism
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While we're on China, FastFT has just noted the Shanghai Composite has returned to "bull market" status its gain since the low in late Augustis now more than 20%