Eric Peters: "If China And The World Bank Are Right, We're Headed For A Depression"
From the latest weekend notes from Eric Peters, CIO of One River Asset Management
"Some people blindly invested offshore and were in a rush to do so,” explained China’s central bank chief, justifying his recent capital controls.
“Some of this outbound investment was not in line with our own policies and had no real gain for China.” No doubt he’s right. The tycoons fleeing Chinese capital markets have done so selfishly. “So to regulate capital flows, I think it is normal,” concluded the central banker.