Chinese gauges of financial stress — including the TED spread, which is the difference between interest rates on interbank lending and interest rates on government bonds — have widened sharply in recent days, suggesting that the Chinese financial system is under severe stress. The New York Times' Paul Krugman is worried:
The widening in the TED spread was one of the key reasons I was already very scared in late 2007. If past is prologue, we should be very worried about China now. [New York Times]
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
Is pop music now too reliant on gossip?Talking Point Taylor Swift's new album has prompted a flurry of speculation over who she is referring to in her songs
-
Nuclear near-missesThe Explainer From technical glitches to fateful split-second decisions, the world has come to the brink of nuclear war more times than you might think
-
What is cloud seeding and did it cause Dubai's severe rainfall?The Explainer The future is flooded
-
Israel proposes two-month pause in Gaza war in exchange for all Hamas hostagesSpeed Read Deal doesn't include an agreement to end war, but might be 'the only path that could lead to a ceasefire', said US officials
-
Nato official warns of all-out war with Russia in next 20 yearsSpeed Read Civilians must prepare for life-changing conflict and mass mobilisation, says military chief
-
Rishi Sunak visits Kyiv to announce £2.5 billion in military support for UkraineSpeed Read Surprise trip comes amid increased Russian bombardment and escalation of Middle East crisis
-
British warship repels 'largest Houthi attack to date' in the Red SeaSpeed read Western allies warn of military response to Iranian-backed Yemeni rebels if attacks on ships continue
-
Israel preparing to flood Hamas tunnels with seawaterSpeed Read IDF pumps could drive out terrorists but critics warn of danger to hostages and Gaza water supply
-
Houthi rebels claim Red Sea ship attacksspeed read Iran-backed Yemeni group vows to escalate aggression towards Israel-linked vessels in revenge for Gaza war
-
Israel plans next phase of Gaza war as first hostages releasedSpeed read After four-day ceasefire 'we will not stop' until destruction of Hamas, says Israel
-
Mob storms Russian airport 'looking for Jews'Speed Read Plane from Israel surrounded by rioters chanting antisemitic slogans after landing in Russia's Dagestan region
