The Chinese Government has been taking steps to rein in their credit bubble, the world's biggest. Their pace of credit growth is worse than the excesses seen in Japan before its property bubble burst in 1990, or in Korea before 1998, or USA before the subprime bubble burst in 2007. The Shanghai stock index has just seen the worst slide in 19 years. Chinese equities are down by three quarters in real terms since their peak in 2007, once of the worst bear markets in any major economy in recent history.
The Telegraph said: ‘While the move has for now calmed nerves, it remains unclear whether calibrated tweaking on such a small scale will be enough to ease fears of a credit crunch for long.’
2014 was always going to be an extremely testing if not downright confusing and panicky year for China.
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On the China 1949 country chart transiting Uranus will oppose the 8th house Mercury Neptune in 2014 which is highly strung and given to acute worry; plus tr Pluto is trine the 8th house Saturn which is deprivation, shortages, a real uphill slog. Transiting Saturn will conjunct the China financial Venus on and off till mid 2014 which is depressed. Late 2014 into 2015 Solar Arc Sun squares Saturn and in 2015/16 Solar Arc Saturn is conjunct the China Venus – both of which look like bad news financially. And by 2015/16 tr Pluto will be square that 8th house Neptune which is devastating.
The Bank of China chart, 1 Dec 1948, looks no more cheerful with Neptune in Libra picking up the tr Uranus opposition in 2014 and tr Pluto square in 2015/16. Plus serious worries from tr Neptune opposition Saturn thro’ till late 2014; followed by a sinking tr Neptune square Sun in 2015/16. With a jolting Solar Arc Uranus in a jolting conjunction to their Saturn now and a blocked Solar Arc Sun opp Pluto in 2014/15.
The Shanghai Stock Exchange chart, 19 Dec 1990, is very jangled at the moment as well as stuck with tr Uranus square Uranus and tr Saturn conjunct Pluto – with more of similar to the above with their Neptune at the same degree – so tr Uranus square Neptune in 2014 and tr Pluto conjunct Neptune in 2014/15. None of this looks remotely cheerful.
Problems of this magnitude will have a global ripple or even tsunami effect. So all a matter for concern.
Marjorie Orr has an M.A. (Hons) in English Literature and Philosophy from Glasgow University, and was a current affairs journalist, award-winning BBC TV documentary producer and then a psychotherapist. She has a worldwide following for her astrology... read more