To predict what will happen in the long term, you should not jump to conclusions from recent trends in the Chinese economy. Worry less about a credit crunch, but see rising debt as a trigger for low yields on savings. And don’t think that more consumption is the way to faster growth.
Those are some of the key takeaways from my recent discussion with Wang Tao, author of Making Sense of China’s Economy, published earlier this year. One of the most respected voices on China’s economy, Wang was chief economist for China at UBS Group AG for more than a decade and before that was chief economist at the International Monetary Fund.
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