If I understand this correctly, a 3 month deposit - similar to a CD, committed to leaving the funds in for 3 months yields 1.71% APR. I don't have an amortization table in front of me, nor do I know the compound frequency, so let's just say the actual yield over 1Q is 1/4 of this, or 0.43%. That is still locked up - not a true short term rate (which has no time commitment). Short term rates are significantly less in the U.S. - no idea about China.
Correct?
If so, I am not seeing a problem with the numbers.
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