We seek to look at issues in detail and from different angles and to explain our thinking to the public. While not everybody agrees with our decisions, we do our best to explain those decisions and the framework we use to make them. This month’s special discussion was on the Chinese economy. One focus was on the difficult trade-off facing the Chinese authorities.
There is a clear need to, and a desire by the authorities to, address the high and rising levels of debt in China. At the same time, though, the authorities are committed to achieving growth targets that are still quite high. It remains an open question as to whether both of these objectives can be achieved.