China’s rapid credit expansion in 2009–10 brought local government financing platforms (LGFPs) into the spotlight. This …, local governments, and sovereign balance sheet. This paper argues that LGFPs were a fortune for China in the past, but would …

that some types of investment are becoming excessive in China, particularly in inland provinces. In these regions, private … existing trends continue, valuable resources could be wasted at a time when China’s ability to finance investment is facing … to that in manufacturing and real estate. Financial reform would facilitate such a reorientation, helping China to …

In coming decades, China will undergo a notable demographic transformation, with its old-age dependency ratio doubling … literature. Going further, we simulate global savings behavior based on our framework and find that China’s demographics should … and future policy choices. Other implications arising from China’s demography, including the growth model, the pension …

This paper investigates macroprudential policies and their role in containing systemic risk in China. It shows that … China faces systemic risk in both the time (procyclicality) and cross-sectional (contagion) dimensions. The former is … against systemic risk in the current economic and financial environment. Nevertheless, better-targeted macroprudential …

Industrie 4.0", China "Made in China 2025", die USA das "Industrial Internet Consortium". Wer führt die vierte industrielle …