Abstract
Paul Armstrong-Taylor focuses on the risk of rising debt in China. He explains that China’s economic growth has been based on investment and exports. To support growth the government has distorted financial markets by keeping interest rates low. This has caused rapid growth in debt, particularly in the shadow banking sector. The risks are manageable, provided that China actually moves to a more sustainable, if slower, growth path.
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Armstrong-Taylor, P. (2016). How Stable Is China’s Economy?. In: Arase, D. (eds) China’s Rise and Changing Order in East Asia. Politics and Development of Contemporary China. Palgrave Macmillan, New York. https://doi.org/10.1057/978-1-352-00023-8_6
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DOI: https://doi.org/10.1057/978-1-352-00023-8_6
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