The People’s Bank of China (PBOC) issued a statement on Tuesday, June 25 aiming to calm markets after days of volatility. Borrowing costs rose to new levels the week before, sparking fears of a prolonged credit crunch. The statement assured that the PBOC will help banks in need and that lending is still happening. Markets responded the next day by stabilizing slightly.
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SR: The Week’s China Reads
Every week, China Program’s Senior Advisor Dr. Robert A. Kapp compiles a reading list and provides commentary, for you to better understand China.
Robert A. Kapp is senior advisor to the China Program at the Carter Center. He has been principal of Robert A. Kapp and Associates, a business consulting firm, since 2004. From 1994 through 2004 he served as President of the United States-China Business Council…