Thursday, May 05, 2005

CSIS : China - Global Economic Instability

Excessive credit, investment, exports and bad loans could inflict major disruptions on the Chinese and global economy in the years immediately ahead, according to a new analysis by CSIS senior adviser Richard McCormack. There are parallels to what happened to Japan in the late l980s.

"China's economic planners are also running enormous risks for China and for the global trading system as a whole by attempting to accomplish with a turbo-charged export-led strategy in one generation the economic developments that should have been the work of two," writes McCormack, who based his assessments on two decades of high level experience and consultations in the region.

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