China's leverage crackdown gets shrug from markets

Sydney

THE Chinese leadership has this year made its strongest commitment yet to curb financial risks and rein in spendthrift local officials, yet the campaign has spurred barely a ripple of concern among global investors.

In a recent survey, China hardly registered on the list of dangers eyed by fund managers and strategists that could threaten the "Goldilocks" boom in stocks and credit around the world. That's a big change from two years ago, when a surprise devaluation of the yuan spooked markets, all the more because it came just weeks after China's equity bubble had started to burst.