My Value Partners Group 惠理集团 Investment Case

China Macroeconomics & Academia

Christopher Balding

Macroeconomics

<p>A major theme of 2017 has been on the China deleveraging story.  It is often repeated that China is deleveraging but in our estimation this is at best an incomplete picture that relies on narrow data to flat out wrong.  As we near the end of 2017, let us look back to see how well the deleveraging story for 2017 holds up.</p><p>In reality, the picture is mixed when it comes to deleveraging.  The reasons for this will become apparent but it is important to note the multiple facets of this story.  For…</p>

A major theme of 2017 has been on the China deleveraging story.  It is often repeated that China is deleveraging but in our estimation this is at best an incomplete picture that relies on narrow data to flat out wrong.  As we near the end of 2017, let us look back to see how well the deleveraging story for 2017 holds up.In reality, the picture is mixed when it comes to deleveraging.  The reasons for this will become apparent but it is important to note the multiple facets of this story.  For…

2017 in Review: Is China Deleveraging?