Book notes: Shadow banking in China, by Andrew Sheng and Ng Chow Soon
The authors dispel many myths about shadow banking in China
Andrew Sheng and Ng Chow Soon, Shadow banking in China: An opportunity for financial reform, Wiley, 2016, 288 pages
Is China at risk of a financial crisis? Many influential voices believe so, including the Bank for International Settlements, which recently warned that one of its indicators of banking risk, the credit-to-GDP gap, had now risen to over three times the level it considers a danger signal. However, the countervailing view is that the risks of a Chinese financial crisis are
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