Economic Turmoil: China, Deutsche Bank
The world awoke Friday to some devastating economic news. First, Chinese exports and imports have collapsed, suggesting that its economic recovery was a sham. China is sitting on a multi-trillion dollar credit bubble that if it pops will make '08 look like fantasy land.
Second, Deutsche Bank has just sold $4.5 billion worth of junk bonds to make ends meet while simultaneously ordering a complete hiring freeze. Investors are panicking.
Second, Deutsche Bank has just sold $4.5 billion worth of junk bonds to make ends meet while simultaneously ordering a complete hiring freeze. Investors are panicking.
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