Sam Liu

In a move that's likely to amplify trade tensions and increase the likelihood of protectionism, Beijing unveils a Buy Chinese initiative that will force government agencies to buy local goods and services exclusively. Some are attributing the late-morning / early-afternoon weakness to this story.

no country is responsible for reckless, irresponsible spending. in theory (that is with an open capital market), this"buy china" initiative will put costly pressures to maintain its peg