China pumped up domestic credit over a five-year period following the global financial crisis at the fastest pace on record. Photo: Reuters
Opinion
Opinion
China’s credit excess is unlike anything the world has ever seen
‘China’s investment efficiency has deteriorated to the point that...every 1 yuan in new fixed asset investment is now creating only 7 fen in GDP’
China pumped up domestic credit over a five-year period following the global financial crisis at the fastest pace on record. Photo: Reuters