If we take total credit as a percentage of the most advanced economies, then total credit of the economies is now 30 percent higher than in 2007 when the last crisis occurred.
Similarly in China credit as a percentage of the economy has been growing the last few years by 50 percent. This is unprecedented. It is a gigantic credit bubble. I admit it may go on but it will end badly.
Similarly in China credit as a percentage of the economy has been growing the last few years by 50 percent. This is unprecedented. It is a gigantic credit bubble. I admit it may go on but it will end badly.
