Move over, Janet Yellen and Ben Bernanke. Step aside, Mario Draghi and Haruhiko Kuroda. Compared with Zhou Xiaochuan, the longtime governor of the People’s Bank of China, they are all lightweights when it comes to monetary stimulus. The latest data released by China on Wednesday shows that the country’s rapid growth in money supply has continued. Mr. Zhou and his colleagues have only begun the difficult and dangerous task of reining it in —– a task that still lies ahead of the United States Federal Reserve as it begins its own gradual taper this year. China’s money supply, broadly measured, has now tripled the money sloshing around its economy since the end of 2006. That dwarfs the indirect effects of quantitative easing in the United States, where the broadly measured money supply rose only 55 percent from 2006 through the end of November. China’s tidal wave […]