Geopolitical is risk on again and the Great Correction is coming to #China (made worse by QE in US, UK, Jap). How the Govt responds with their ‘managed capitalism’ mantra will be one for the history books. Admirably, they already show an understanding of the psychology of greed and self-preservation when ordinary citizens see an economy start to unravel. Last night I tweeted about a China bank run and this morning, as it spread to other small banks, the authorities put out piles of cash behind the teller’s windows to try to boost confidence. Wonder if that would have worked at Northern Rock?!
