EFTA Document EFTA01458563

2 October 2015 Global Economic Perspectives: A hard landing in China? net foreign assets as large as China's and a current account surplus. China doesn't need to import capital to sustain credit growth. Neither are banks in China likely voluntarily to suspend financing even to high- risk borrowers. Government ownership ensures, we think, that banks will continue to lend to finance infrastructure investment even where purely profit- maximizing lenders would not. Eventually, this will have t