The Chinese equivalent of our Federal Reserve Bank announced that it will shift from a “relatively loose” to a “prudent” monetary policy.(((((((what this means is that China is going to raise interest rates to keep inflation in check.)))))))China has a lot more weapons to fight inflation than we do. Namely that they control the prices of hundreds of goods, such as gasoline and pork. You’re going to read a lot about inflation picking up in China but it is pretty easy for a command economy to control inflation through price controls.
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