China pumped up domestic credit over a five-year period following the global financial crisis at the fastest pace on record. Photo: Reuters
Andrew Brown
Opinion

Opinion

Andrew Brown

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’

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China pumped up domestic credit over a five-year period following the global financial crisis at the fastest pace on record. Photo: Reuters
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