challenging to generate growth in China? Yeah, I think if you were to draw that top chart using including corporate bonds and including all sorts of quasi loans like short term private equity, then you would find that the two lines are in opposition to each other. And the reason is simply because you require more capital every year to drive the same amount of GDP growth and you have a target, so you just have to put in more capital. And that's why I think that they're going to hit a wall because it's very important politically for whatever reason to fulfill the promise to the Chinese people that GDP will double by 2020. I guess the starting point was 2010, I don't know. And what that means is that you have to have 6.53% GDP growth every year. So they're just damn well going to hit that target. And that's unfortunate because the quality of growth, it's kind of like people talk about digging holes and filling them in again or building a Mexican wall. But essentially that's what you're (51/57)
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