Brad Setser
speaker
466 appearances
2 recordings
1 series
first heard Nov 2024
last heard Apr 2025
Brad Setser’s voice in public audio — every appearance, attributed to the second.
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Although it was striking to me that this bank treasurer was more or less saying, you know, the the official lending rate, which the Chinese have been de-emphasizing, was actually really important.
Other thing he was complaining about is well, there's all these lending quotas.
Like again, I was like, Ah, I thought you'd reformed your commercial banks.
You weren't doing quotas.
No, no, no.
Quotas for manufacturing, quotas for lending to innovation.
The treasurer obviously was sort of implying quotas that required us to lend to companies that were going to generate losses in the future.
So what was the great hope?
Well, they looked at the Japanese banking system and discovered that the Japanese banks do this great dollar business that generates half their interest income.
And they looked at that with with envy.
You could
Choose your own interest margin in dollars, and you weren't forced to lend to loss-making companies in dollars.
So, just as an anecdote.
You see growth in the dollar бізнес офшордола бізнес в Чанії Стат Банкс.
Which completely runs against the de dollarization narrative and is very much a function of China's own domestic weakness.
So I think that to me that was telling.
Well again, Tracy, thanks for really closely reading my paper.
Uh I actually thought that was a good line.
Um you're the first person who's noticed it.
Um I throw in like hopefully like uh some witty quips in a 40-page paper just to test to see if anyone actually reads.
Showing 361–380 of 466 · page 19 of 24
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