Blogger Edward Harrison pulls off the rose-coloured glasses.
China is in the midst of an asset bubble according to Edward Harrison from Global Macro Advisors. He takes aim at the top three excuses being made by experts for why China isn’t in bubble state. The three points he takes issue with are:
1. China’s asset price rises are not underpinned by debt;
2. China has a huge cache of reserves;
3. Chinese policymakers are clairvoyant.
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