event

China Faces the Kiss of Debt

Tue. May 12th, 2015
Washington, DC

Confronted by the 2008 global financial crisis, China unleashed an unprecedented economic stimulus package that included rapid growth in credit from the state banking system to enterprises and local governments. No other developing country has amassed as much debt as quickly. And in other countries, large increases in debt have usually been followed by sharp growth slowdowns, and many ended in crisis. Is China’s debt bomb likely to explode? Is its decelerated growth rate still too rapid? Is there a cure for China’s debt addiction? 

Ruchir Sharma answered these questions. Carnegie’s Yukon Huang commented, and Vikram Nehru moderated.

Ruchir Sharma

Ruchir Sharma is head of Emerging Markets and Global Macro at Morgan Stanley Investment Management. He joined Morgan Stanley in 1996 and has 21 years of investment experience. Sharma was a contributing editor with Newsweek and frequently writes essays for publications including The Wall Street Journal, Financial Times, New York Times, Foreign Affairs, and Time. He is the bestselling author of Breakout Nations: In Pursuit of the Next Economic Miracles.

Yukon Huang

Yukon Huang is a senior associate in the Carnegie Asia Program, where his research focuses on China’s economic development and its impact on Asia and the global economy.

Vikram Nehru

Vikram Nehru is a senior associate in Carnegie’s Asia Program. His research focuses on the economic, political, and strategic issues confronting Asia, particularly Southeast Asia.

EconomyTradeEast AsiaChina
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
event speakers

Ruchir Sharma

Ruchir Sharma is head of Emerging Markets and Global Macro at Morgan Stanley Investment Management, a company he joined in 1996. He is also the bestselling author of Breakout Nations: In Pursuit of the Next Economic Miracles.

Yukon Huang

Senior Fellow, Asia Program

Huang is a senior fellow in the Carnegie Asia Program where his research focuses on China’s economy and its regional and global impact.

Vikram Nehru

Nonresident Senior Fellow, Asia Program

Nehru was a nonresident senior fellow in the Carnegie Asia Program. An expert on development economics, growth, poverty reduction, debt sustainability, governance, and the performance and prospects of East Asia, his research focuses on the economic, political, and strategic issues confronting Asia, particularly Southeast Asia.