The risks facing the Chinese economy
China isn’t at risk of a financial meltdown, but it does face a slow puncture, writes Michael Taylor
Events in the Chinese real estate market during the past couple of years, especially the well-publicised problems of the large and highly indebted property developers Country Garden and Evergrande, have resurrected a question that has surfaced repeatedly over the past 10 years: is China at risk of a financial crisis? A wide range of commentators have repeatedly and confidently predicted that China will at any moment face its own ‘Lehman moment’, shorthand for the point in the global financial
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