Aussie Dollar Tanks After China Admits Growth Will Miss 6.5% Target
by Tyler Durden
ZeroHedge.com
Dec 23, 2016
With fears mounting over China’s debt load sustainability, and amid yet another liquidity crisis, President Xi Jinping appeared to admit that China’s economic growth will slow below the government’s 6.5% target. Despite the promise of creating a “modestly prosperous society,” Xi warned that China doesn’t need to meet the objective if doing so creates too much risk – a little late for that after trillions of freshly created credit was spewed into zombified firms this year – but at least reality is starting to set in.
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