ExclusiveThe Silent Crisis: Private Credit & "Selective Defaults"

Welcome back to this special edition of Unseen Ledger: Untold stories beyond figures - Economic Bulletin for December 2, 2025
From the PBOC’s strategic calculations to the record-breaking rally in silver and gold, shifting macro currents are defining a volatile new financial order. As Beijing tightens conditions to defend the yuan’s standing, global investors are left navigating a maze of mixed signals from the Fed and looming stagflation risks. More concerning still, visible cracks in private credit markets and Europe’s entrenched stagnation are casting a long shadow over the global growth outlook for the years ahead.
Join Unseen Ledger as we explore the stories behind the numbers in today’s detailed bulletin.