Debt Troubles Within the Great Wall (Martin Wolf) from the Financial Times [of London]
"Credit cannot outgrow GDP forever, even in China. The question is how it will stop. ... "...by the final quarter of last year total “social financing”, as the Chinese authorities describe it, had reached 200 per cent of GDP, up from only 125 per cent before the crisis. Moreover, much of this increase had been outside traditional banking channels. Instead, there has been explosive growth of what one might call a “shadow banking system with Chinese characteristics”."
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