BoE’s Haldane: China must not overshoot on financial reform
Andrew Haldane, the executive director of financial stability at the Bank of England, in a paper to be presented at the Oxford China Business Forum in Beijing on 9 September and released on 2 September discusses the roles of patience and impatience in financial decision-making in China.
Haldane highlights how both patience and impatience can be self-reinforcing, with patience unlocking growth and prosperity but impatience generating over-trading and under-investment. He says China was proof that
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