Tokyo
WHAT may be shaping up as China's most concerted effort yet to bring its credit boom under control is spurring investors to gauge any contagion to broader financial markets, a-la 2015, when Chinese turmoil caused global ructions.
Policy makers' moves to crack down on leverage have already wreaked about US$500 billion of financial damage domestically, and - along with evidence that economic growth may be peaking - are dragging on industrial metals and iron-ore prices globally.
The key metrics to watch now: the yuan's exchange rate and cross-border capital flows.
For now, what's giving heart to foreign investors is China's success in tamping down capital outflows, as seen in foreign-exchange...
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