Marshall Auerback — China Continues To Walk A Tightrope

This is simply a microcosm of China’s greater overall dilemma created by its growth disequilibrium; either it must relax restraints and allow continued rapid debt growth and thereby maintain its high level of investment [with increasingly low returns owing to saturation], or it must reduce debt growth and suffer the consequences of an investment downturn with its threat of an accelerator multiplier contraction.

Macrobits by Marshall Auerback
China Continues To Walk A Tightrope
Marshall Auerback