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Rebalancing, Deleveraging and Sustaining Growth in China

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  • Yan Liang

Abstract

The Chinese economy is facing some critical challenges in the recent years. As it rebalances the economy away from investment and toward consumption, output growth has slowed down and the corporate sector struggles with falling profitability and increasing debt. On the other hand, the efforts to rein in credit expansion and deleverage have yielded limited success. This article analyzes China’s debt issue— the causes, patterns, and possible consequences of debt accumulation. Based on the analysis, this article provides a critical assessment of the current policy measures in dealing with rebalancing and deleveraging and proposes some alternative policy actions.

Suggested Citation

  • Yan Liang, 2017. "Rebalancing, Deleveraging and Sustaining Growth in China," Chinese Economy, Taylor & Francis Journals, vol. 50(6), pages 370-380, November.
    • Handle: RePEc:mes:chinec:v:50:y:2017:i:6:p:370-380
    DOI: 10.1080/10971475.2017.1379934
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    Cited by:

    1. Ku‐Hsieh Chen & Pei‐Hua Chen & Yen‐Ju Lin & Ching‐Fang Chi, 2022. "To sell the cow and drink the milk: How could China harmonize its growth and risk?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 2949-2964, July.
    2. Mohsen Bahmani-Oskooee & Tatchawan Kanitpong, 2019. "Asymmetric Effects of Exchange Rate Changes on Thailand-China Commodity Trade: Evidence From 45 Industries," Chinese Economy, Taylor & Francis Journals, vol. 52(3), pages 203-231, May.
    3. Yang, Jingyi & Shi, Daqian & Yang, Wenbo, 2022. "Stringent environmental regulation and capital structure: The effect of NEPL on deleveraging the high polluting firms," International Review of Economics & Finance, Elsevier, vol. 79(C), pages 643-656.

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