China Update – Why Is the Consensus Now So Optimistic?

http://ift.tt/QfPtIX

As long as China has debt capacity, it can achieve any GDP growth rate Beijing requires, simply by allowing credit to expand. But debt levels are already high, and credit must expand at an accelerating pace to maintain growth. China is probably still a few years away…

Vía Financial Sense http://ift.tt/2p0i6WH

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