The Bear Case for China Sees PBOC Following Fed to Zero Rates
- Fathom says authorities will have to weaken yuan by 25%
- China's main rate seen falling to zero by former BOE economist
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Danny Gabay “bows to nobody” in his pessimism about China’s economy.
Gabay, a former Bank of England economist, says the world’s second-biggest economy is barreling toward a hard landing. He and colleagues at Fathom Financial Consulting Ltd. reckon its growth rate has slowed to about 3 percent a year -- less than half the official estimate of 6.9 percent for the year to the third quarter and the 6.5 percent the government is aiming for over the next five years.