We’re deep in the fog of war today. There are many reports that Israeli fighters have entered Gaza in the northeastern corner of the Gaza strip in Beit Hanoun. Throughout the Gaza strip, there are reports of heavy airstrikes, perhaps the heaviest yet. There are also reports of tanks nearby and perhaps anti-tank weapons. I
PBOC monetary policy maker Cai Fang has published a letter calling for urgent consumer stimulus: If the household budget curve is not repaired in time, the lack of confidence in residents’ consumption may turn from short-term behavior to long-term behavior. This long-term behavior means entering the so-called “balance sheet recession”. For the new normal that
