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China cash squeeze lurks as $340bn NCDs come due

Bloomberg China’s money market is bracing for yet another squeeze. A record 2.3 trillion yuan ($340 billion) of negotiable certificates of deposit—a funding lifeline for medium and smaller banks—are set to mature next month, adding to the stress of an official deleveraging drive that has pressured onshore bonds lower in all but two months of this year. The flood of ...

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The curse of middle-aged capitalism, for Trump and all

A persisting puzzle about the US economy is how it can seem both strong and weak. On the one hand, it remains a citadel of innovation, producing new companies like Uber. On the other, the economy is expanding at a snail’s pace of 2 percent annually since 2010. How could both be true? Why isn’t innovation translating into faster growth? ...

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Australia’s ongoing war on dual nationals won’t have winner

It’s time for Australian legislators and jurists to end a juvenile tussle about citizenship and who can serve in government. Their future depends on it. There is almost daily hysteria in Australia over a formerly obscure clause in the constitution that bars dual nationals from sitting in the federal parliament. The question is which legislators are now disqualified because they ...

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