Politburo meeting; The "Fengqiao Experience"…

Friday’s Politburo meeting set the tone for the Central Economic Work Conference (The CEWC), and that tone appears to be consistent with what we have been hearing all year, that the leadership is OK with slowing growth, that while there are plenty of risks and challenges they are up to the task, and that there will be no large-scale stimulus. The CEWC should convene within the next ten days, so we should have a tad more clarity soon.

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