Don’t believe the latest scare story about China

Via Yahoo News, this analysis is written by Arthur Kroeber, managing editor of the China Economic Quarterly, on the Financial Times.

“The latest China scare story is that depositors are fleeing the state banking system and putting their money into the higher-yielding informal financial system. This makes it impossible for Beijing to slow down an overheated economy, and puts the fragile state banking system at risk. Don’t believe it.”

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