Chinese Debt Risks Financial Collapse
Chinese Debt Risks Financial Collapse
Asia
02 Nov 2016
Florian Anderhuber
The quarterly report of the Bank for International Settlements paints a worrisome picture of the financial sector in China. The credit-to GDP-gap recently reached an extreme of 30 per cent – the highest level in the 21-year history of the series and the highest current reading of any of the countries monitored by the BIS. Credit expansion and credit growth is three times higher than it should be, given the size and growth of the overall economy – an extremely worrisome trend. Both the 1997 Asian Financial Crisis and the 2007 Real Estate Crisis were preceded by similar rapid credit expansions. In China now this value is even higher. While a central bank monetary stimulus in mid-February seems to have largely alleviated investor concerns, the underlying credit problem has not been addressed.
Debt warnings:
READ MORE: https://fronteranews.com/news/asia/chinese-debt-risks-financial-collapse/
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