Red Ponzi Tottering: Even Beijing Command And Control Rapidly Weakening

Something strange is happening in China: Beijing appears to be steadily losing control of the economy, which by definition is impossible for a centrally-planned, command economy such as China’s, and yet the latest signals are clear and ominous. Consider the following: on Friday, just after Beijing reported the latest disappointing trade data for the month of June which saw exports falling 1.3% in June from a year ago – as exports to the US tumbled by 7.8% – and imports shrank a more-than-expected 7.3% ..