Christine Lagarde’s two-day-visit to China concluded on Monday without any specific agreements on how Beijing will fend off financial risk. But Premier Li Keqiang insisted that they will use all the tools available. Trillions of renminbi of debt have built up in the Chinese economy as a result of decades of stimulus and easy credit.
BEIJING | By Liu Shengjun via Caixin | When China’s premier Li Keqiang recently met six experts to talk about reforms, he quizzed them on their data and bemoaned slow progress in changing local governments.
Angela Merkel refuses to levy tariffs of 47% on Chinese solar panel imports because she fears damaging China-Germany relations and being shut out of its market. However, in Ray Kwong’s view, Berlin is too dependent on China’s economic engine, which could crack anytime due to territorial conflicts, too-rapid expansion of credit, lax environmental oversight, widening discontent among the population and many other legitimate problems.