China is not in crisis, it's reforming

Julian McCormack | Platinum Asset Management  | 29 April 2019

China is often presented as a source of crisis or instability for the global economy.¹ However, there is little evidence of crisis in China. The picture that is apparent is one of imperfection, not peril.

At the heart of Chinese catastrophism is the assertion that loan growth in China has been unsustainable and China possesses an "economic model based on debt rising at an ever-increasing rate".² There has indeed been a rapid i...