Great Wall of China

“Xi Jinping gambles on economic tumult to cement his legacy”, “The Undoing of China’s Economic Miracle” and “China’s Unstable Political Economy” are just some of the headlines that have graced the Financial Times, The Atlantic and the Wall Street Journal in recent months.

Some of this anxiety among economists relates to property developer China Evergrande, which has been teetering on the brink of collapse due to high debt that led it to suspend the construction of multiple projects over the summer.

The group missed an $83.5m interest payment in September, but eventually paid bondholders in mid-October. The government never gave any indication it would support the company and the People’s Bank of China went as far as claiming that any impact on the financial system would be controllable.

The government’s willingness to potentially let…

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Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).