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In China Easy Credit Led To High Growth But Also Many Bad Investments – In The Long Run This Is Unsustainable Professor Michael Pettis argues that China should tighten interest rates so that more expensive credit will go mostly to deserving borrowers

By Paolo von Schirach Related story: http://schirachreport.com/index.php/2013/08/28/underneath-chinas-still-impressive-7-5-growth-there-is-a-mountain-of-debt/ September 3, 2013 WASHINGTON – I pointed out in a recent piece how China’s...