China’s Growth Driven by ‘Cheap Credit’ And Is Not Sustainable
China's economy expanded by a stable 6.7 percent during first quarter, but one analyst was concerned the growth was driven by an increase in credit.
China's economy expanded by a stable 6.7 percent during first quarter, but one analyst was concerned the growth was driven by credit. It seems to me like we're going back to where we were before with the government loosening monetary policy, the engineering of a mini housing market boom and more infrastructure spending,' said Michael Ingram, a market analyst with BGC Partners, based in London. Some 1.37 trillion yuan was lent out in China during March, beating estimates 1.1 trillion. TheStreet's Scott Gamm reports from Wall Street.
