China's Credit Boom: New Risks Require New Reforms
The Chinese financial system stands at a crossroads. The response to the global financial crisis eroded some of the hard-earned discipline put in place during the 2000s. As a result, significant risks have accumulated, and the financial sector once again appears vulnerable to large-scale credit misallocation and spiraling bad debts. Reducing these risks will take a new wave of concerted action. Absent better regulation, the tremendous growth of credit in recent years has the potential to result in large-scale financial distress.
Year of publication: |
2013-10
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Authors: | Borst, Nicholas |
Institutions: | Peter G. Peterson Institute for International Economics (IIE) |
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freely available
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