An area to watch closely is the rapid rise in China’s corporate indebtedness. At around 220 percent of GDP, China’s debt burden is not the highest among the largest economies, but the extent of its debt accumulation (over 70 percent of GDP in 6 years) is unprecedented.
I look forward to productive, open engagement in the future. Thank you. 1With thanks to Brian Balmforth, Mark Rowe, Pamela Farrell, Joseph Collins, Chris Joyce, Olivia Rouse and Déirdre  Nic Ginneá for their support in preparing this speech 2See ESRB Report on systemic risks in the EU insurance sector December 2015 3EIOPA Insurance Overview Report 2021 here 4  Insurance Ireland.