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The Subprime Impact on China

In: Asia and the Subprime Crisis

Author

Listed:
  • Chi Lo

    (Economic Strategist)

Abstract

The damaging financial effect of the subprime crisis on China and its banking system is limited: less than 1% of total assets in the system, according to the market estimation. Even the deepening of the crisis after US investment bank Lehman Brothers went broke in September 2008 did not inflict further damage on Chinese banks because they had been cutting foreign risk exposure way before the crisis. This limited impact was a result of government ownership, strict regulations and a closed capital account that have all added up to shield the Chinese financial system from the external shock. Hence, there was no confidence crisis and no counterparty risk in the Chinese banking system.

Suggested Citation

  • Chi Lo, 2009. "The Subprime Impact on China," Palgrave Macmillan Books, in: Asia and the Subprime Crisis, chapter 3, pages 25-38, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-25113-7_4
    DOI: 10.1057/9780230251137_4
    as

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