China’s Credit Growth Comes Up Woefully Short, Raising Concerns At Critical Juncture

If you were looking for signs that China is prepared to flood the economy with credit in an effort to push hard enough on a string to have an impact, you'll be disappointed on Monday. Total social financing for July came in at just 1.01 trillion yuan, missing estimates (1.63 trillion) by a country mile. This will likely add to jitters that recent unfortunate "events" in the regional banking sector are affecting credit conditions. It could also be a sign that demand for credit simply isn't ther