📄 Extracted Text (344 words)
(Figure 8: China tends to experience capital outflows
when the domestic economy slows
r Recent weakening in growth and RMB has
resulted in flows into China becoming more balanced
20O% •I 60 76
16.0% 103 $66
16XY • 20
ao
140% •popil, .AA eo
6
12.0% 40
.20 30
i00%
FL0% -I I
0 a
604 -i • :20
4.0% •• 430 •10
% Vat
2.0% I AMA .450 -60
60
OA 4 4. —. —. —. .. . 426 Jto10 3641 .3244.12 0.03 Anil
Lia05 Magi/
le& Mae II MM-13
ile4;7.04macy .6 0•46 iamb: —arourata pr...ar riay. sa) Lade tat > FIN iat.432inet haW a
. wouaryeit Fi fX insauses
Speer Araks* a a Abersawo "%nit Swot a. &A oat StitneIvy Re.
!Figure 10: Corporates are actively rebuilding their USD Figure 11' ...and actively hedging more of their FX risks
(balance sheets. . ..
ito 6 Lb Stwa$1 6.10
sou 70 Saw sum
6.35 6.15
60
t 630 50 6.20
.375 40 625
6.20 30
20
6.15 6.35
10
6.10 0 6.40
6.05 -10
600 -20 6.45
.140. 13 .15r .4513 70,44 LiIA .10 3 u6M
J4411 444.12 Jan43 Jan-14
lant466:»in Cara ii-;74,JJ, Lag !,<63$ !17451$6i Ka& by Oxbow.. &Ka antbfliv Sol
&ant ASS fent a Mamba AnarsIP bast Oriaskasat WC Medea rhows1P
''figure 12' increasingly. 7.6% growth target is not
achievable in the absence of stimuli
140% •46416Y % YpY 20%
IFigure 13: More credit required for every incremental bit
of GDP growth
18.0 CNY trn
130% 1 MINA 10.0
10%
130% 14.0 •
16% E• 17.0
11.0% 12.0
14% 140 10.0
100% •
80 8.0
90% 12%
6D 6.0
eo% I 10% 40 1
▪ .' 4.0
8% 2.0
0.0% 011 0
S0% 1 6% I. 00
-10
▪ ! 1% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
•••••alneonlberyi 637C0P rargind13 • Bank Loans • 084745367.e Sheet fiaarassi
CIF IC%14Y. 3MM41 • Rands &Equiry •:Mora
*stmes5
BaseacOasokrIbraft lisgavirAnal. Sama wow Os* a &swoop Arm irt
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0055492
CONFIDENTIAL SDNY_GM_00201676
EFTA01364936
ℹ️ Document Details
SHA-256
48d13124f58e2a036c59feb35f87edb98c6345c7cdb8c8d0f846831a332306b0
Bates Number
EFTA01364936
Dataset
DataSet-10
Document Type
document
Pages
1
Comments 0