That drop in interest rates doesn’t affect what the government has committed to pay on debt already issued. It only affects what the government can issue new debt at.
It’s still a positive.
China PMI (I believe these are ‘official’ from China):
https://twitter.com/TomOrlik/status/1233558669503143936
Horrible.
Valid point.
Still, much of the old debt is ‘rolled over’, and some interest on it is paid with new debt. So there are a lot of good things here.
Of course there’s always another side though. One person’s gain is often another’s loss.