Grace Wu

Alan Kohler: Well, Grace, could you explain the extent to which China’s economic growth depends on credit expansion? Grace Wu: When China, the investment led growth, which is primarily driven by credit, was the dominant driver for economic growth following the stimulus in 2008. This trend has started to reverse in 2015 where the pickup in consumption has started to significantly overtake investment as the key driver of overall growth, contributing nearly two thirds of GDP growth in China during this period. However, the dependency on credit growth is still evident. If we look at the credit growth, that is

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