In terms of the scale of its production and exports, it already ranks first in the electronic household appliance, textiles, clothing, footwear and iron and steel sectors. China has risen to become the 'workshop of the world' nowadays, and it accounts for the seventh largest share of the global economy. It also holds the world's second largest foreign exchange reserves, trailing only Japan.
Conclusions These works and debates matter not only in countries where the non-bank financial sector is large. In a globally interconnected financial system, countries with small non-bank financial sectors are often the most vulnerable to these risks.