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The Wall Street Media is Not Your Friend 10/20/23

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Bloomberg (George Lei): “The exodus of money from China has intensified in September with few signs of abating in recent weeks… China’s FX regulator, SAFE, released a disturbing set of data on Friday: onshore banks net sold foreign currencies worth $19.4 billion to their clients in September, the most since November 2018… Banks sent a net of $53.9 billion abroad on behalf of clients, the biggest monthly outflow since January 2016, shortly after PBOC engineered a one-off depreciation in August 2015

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