Make no mistake, writes Patrick Chovanec, "the PBOC just handed back the punch bowl" by lowering...

|By:, SA News Editor

Make no mistake, writes Patrick Chovanec, "the PBOC just handed back the punch bowl" by lowering reserve requirements yesterday. Chinese leaders don't necessarily want to impose another credit-induced boom on top of the one just completed, but - with growth overseas slowing - find themselves in a box. "An unbalanced recovery is better than a balanced recession," said the vice premier recently.