Deadly Chinese Fentanyl Is Creating a New Era of Drug Kingpins
https://www.bloomberg.com/news/features ... g-kingpins
One key issue is that despite the trade war with the US, China’s exports held up relatively well as exporters front-loaded their shipments to the US to get ahead of expected further increases in tariffs.
As inventory levels build up, this front-loading will have to taper and reverse in early 2019, even if a US-China trade deal is reached.
It looks like it will take at least until the second half of this year for growth in China to stabilise, and economic data is likely to get worse before it gets better.
Given the nervous state of financial markets, until then, it could be wise to treat any overexuberance in Chinese and emerging market equities with a healthy dose of scepticism.
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