How Huarong Explains China's Creaky Financial System
ChinaTalk
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China's Financial Paradox: Savings and Stability
This chapter explores the intricacies of China's high savings rate and its impact on the financial system, arguing that access to these savings is limited and concentrated among certain sectors. It examines the government's shift towards a consumption-driven economy while highlighting the sustainability challenges of relying on high savings. Furthermore, the chapter discusses the risks associated with domestic debt, political decisions on debt restructuring, and the growing concern over the government's credibility in managing financial instability.
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