Sorry about the many mistakes in the earlier posts:-).
For example it should be " However, it is historically unique that China is a leading economy without an open capital account."
I believe that -since GFC- shocks in the global economy have been mainly from:
- USA risks via finance
- Europe risks via politics
- China risks via real economy.
I could be wrong, but there is overwhelming evidence in support of the theory.
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- meanwhile...chances of chinese credit crunch?
meanwhile...chances of chinese credit crunch?, page-27
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