{"id":167865,"date":"2014-01-18T21:40:58","date_gmt":"2014-01-19T05:40:58","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/?p=167865"},"modified":"2014-01-19T13:11:53","modified_gmt":"2014-01-19T21:11:53","slug":"leaders-consider-raising-floodgates-rich-china","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2014\/01\/leaders-consider-raising-floodgates-rich-china\/","title":{"rendered":"Plans to Rein in Money Supply as Inequality Spreads"},"content":{"rendered":"<p>Keith Bradsher at The New York Times reports that <strong><a title=\"With China Awash in Money, Leaders Start to Weigh Raising the Floodgates\" href=\"http:\/\/www.nytimes.com\/2014\/01\/16\/business\/international\/china-dwarfs-us-in-monetary-stimulus.html?smid=tw-share&amp;_r=0\">the Chinese government is starting to rein in the &#8220;rapid growth&#8221; of the money supply, which has powered economic growth but also left the ordinary Chinese &#8220;feeling poor and left out&#8221;<\/a><\/strong>:<\/p>\n<blockquote><p>[..T]he rapidly expanding money supply reflects a flood of loans from the banking system and the so-called shadow banking system that have kept afloat many inefficient state-owned enterprises and bankrolled the construction of huge overcapacity in the manufacturing sector.<\/p>\n<p>[\u2026] The question now is whether the central bank can further slow the growth of credit and the money supply without causing a slump in housing prices or a sharp slowdown in the credit-dependent corporate sector. Even the very modest slowdown in money supply growth so far has already contributed to two sharp, but short-lived, increases in interbank interest rates in June and December, which roiled markets in China and around the world.<\/p>\n<p>China\u2019s central bank \u201cis in a very difficult situation; it needs to tighten, but the whole system is not used to tightening, they are used to money printing,\u201d said Shen Jianguang, a China monetary economist in the Hong Kong office of Mizuho Securities, a Japanese investment bank. [<strong><a title=\"With China Awash in Money, Leaders Start to Weigh Raising the Floodgates\" href=\"http:\/\/www.nytimes.com\/2014\/01\/16\/business\/international\/china-dwarfs-us-in-monetary-stimulus.html?smid=tw-share&amp;_r=0\">Source<\/a><\/strong>]<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Keith Bradsher at The New York Times reports that the Chinese government is starting to rein in the &#8220;rapid growth&#8221; of the money supply, which has powered economic growth but also left the ordinary Chinese &#8220;feeling poor and left out&#8221;: [..T]he rapidly expanding money supply reflects a flood of loans from the banking system and [&hellip;]<\/p>\n","protected":false},"author":1022,"featured_media":167866,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[116,2,14744,14745,14746,38],"tags":[14759,2544,15047,7235,1094,3282],"class_list":["post-167865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","category-economy","category-level-2-article","category-level-3-article","category-level-4-article","category-the-great-divide","tag-chinese-banks","tag-economics","tag-financial-crisis","tag-global-economy","tag-inflation","tag-monetary-policy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.9 (Yoast SEO v23.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Plans to Rein in Money Supply as Inequality Spreads<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2014\/01\/leaders-consider-raising-floodgates-rich-china\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Plans to Rein in Money Supply as Inequality Spreads\" \/>\n<meta property=\"og:description\" content=\"Keith Bradsher at The New York Times reports that the Chinese government is starting to rein in the &#8220;rapid growth&#8221; 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