China -Seeds Are Sown For Credit Crunch: NomuraMani
China needs to transform its economy from one driven by exports and capital-intensive industries to one that is driven by market forces, consumption, services and innovative private enterprises, believes a Nomura analyst. Rob Subbaraman argues in his February 2016 Global Markets Research report titled “Asia’s coming credit crunch” that a global manufacturing recession could be made in China.
China has “borrowed” growth from the future
Subbaraman points out that overcapacity and overleverage have become so large in China that they . . .
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