Chen, Zhiwu

Abstract
During the 2008 financial crisis, China enacted policies before many other affected nations did; it launched a massive stimulus program that only state-owned enterprises (SOEs) were trusted to carry out. As a result of this ambitious plan, China recovered faster from the crisis than any of its other peers, and its nominal GDP roughly doubled from 2008 to 2014. China, however, could be facing an economic slowdown despite its previous successes in 2008. In this article, Chen examines the problem with China’s growing economic debt and explains how it may affect China’s growth and development.
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