In chess the strategic thesis of “zugzwang” highlights the point in the match where any change in the status quo weakens a player’s position. A Barclays report wasn’t considering the big bank’s fate relative to the U.S. elections in this report, but was rather focusing on China. In drawing such conclusions on China’s lack of good options, the report seems to confront differing analysis from UBS, which notices subtle changes in how money is being lent in the region as a simulative measure to grow the economy through new business creation. This Chinese concept is taking a different approach to…
Zugzwang: Chinese Policy Makers Playing Chess With Few Good Moves Available
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.