China's central bank chief warns of 'Minsky moment'
His concerns echo those in the past by global bodies about relative levels of corporate and household debt in the economy
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Beijing
CHINA'S central bank chief on Thursday issued a stark warning about asset bubbles in the world's second-largest economy, which looks set to clock its first acceleration in annual growth since 2010, driven by public spending and record bank lending.
Speaking on the sidelines of the closely-watched, twice-a-decade Communist Party Congress, People's Bank of China governor Zhou Xiaochuan spoke of the risks of a "Minsky moment" in the economy, referring to a sudden collapse in asset prices after long periods of growth, sparked by debt or currency pressures.
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