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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
Add BT as a preferred sourcePublished Thu, Oct 19, 2017 · 09:50 PM
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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