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China announces trillion-dollar bailout as debt crisis looms (www.semafor.com)

submitted 4 days ago by Joker@sh.itjust.works to c/world@lemmy.world

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[-] Prior_Industry@lemmy.world 7 points 4 days ago

Won't this cause inflation for the Chinese or are their markets that controlled?

[-] shortwavesurfer@lemmy.zip 5 points 4 days ago

It does not sound like it. It seems more like the United States in 2008, where claims for money far exceeded money in existence. And therefore, when money is created, it does not actually cause inflation, but it causes less deflation than their otherwise would be.

[-] UltraGiGaGigantic@lemmy.ml 1 points 3 days ago

happy printer noises

[-] Buelldozer@lemmy.today 2 points 4 days ago

There's no such thing as a market so controlled that it's immune to inflation. The Russian Ruble is as controlled as a currency can be and Russia is teetering on the edge of hyper-inflation. It's core inflation rate is over 9% and their version of the "Prime Rate" for lending has now jumped from 19% to a historic 21%.

China has more breathing room than Russia but it's still not going to be pretty, especially if this "bailout" fails.

[-] neidu3@sh.itjust.works 6 points 4 days ago

Such things happen when one decides to start a money burning competition with a block of countries with a combined GDP roughly 25 times that of russia.

[-] affiliate@lemmy.world 1 points 3 days ago

not sure who’s listening to this, but i thought i’d throw my hat in the ring. i can also burn all my money extremely quickly, if desirable.

[-] assassinatedbyCIA@lemmy.world 1 points 3 days ago

Aren’t they currently in deflation

[-] Pacattack57@lemmy.world -1 points 3 days ago

1 yen is the equivalent of $.14. Their shit is already inflated to hell.

[-] UltraGiGaGigantic@lemmy.ml 1 points 3 days ago

I thought it was pegged to the dollar somehow.

this post was submitted on 08 Nov 2024

111 points (97.4% liked)

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