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China showing that inflation isn’t the only way to soft-default. You can just hike taxes on your lenders.
This is a country with an A/A+ credit rating at the moment.
5.8. klo 04.52
Buyer Beware: Nothing in fiat is permanent.
China will start taxing bond interest next week.
Old bonds stay tax-free. New ones don’t.
Decades of precedent reversed overnight.
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