We start today's double podcast assessing a recent product issuance by the TBTF banks which sends an ominous warning through the private credit sector. We then assess the yuan once again and further developments as China takes rapid moves towards internationalising its currency. We then assess a recent visit by the Spanish PM to Beijing and how Madrid's relationship with Beijing is becoming the blueprint for all European nations in a bilateral sense and for the entire EU in a multilateral sense. We conclude by assessing the battery sector in China as it continues to hold a very dominant position in this sector.