China is reforming, not in crisis

Julian McCormack | Platinum Asset Management | 19 February 2019 | 0.25 CE

Nearly a decade after one of the great debt binges of all time, Chinese economic growth and credit creation have slowed. Credit creation has been held at levels near nominal GDP growth for years and deep structural reforms are being undertaken. Links between heavy industry and policy-directed lending have been severed. Today, stimulus is being undertaken via easing market interest rates, lowering the income tax burd...