China's indebted enterprises
In an article written by Stephen Letts from ABC website, Wei Yao, China Economist at Societe Generale commented the indebted zombie enterprises in China and the restructuring efforts needed by policy markers:
"Given the immense challenge and risk inherent in the restructuring, especially given the associated non-performing debt, even if Chinese policy makers have a good idea of the long term picture and have started moving in the right direction, the chance of accidents - if not crisis - along this treacherous path will remain uncomfortably significant."
Wei Yao, China Economist at Societe Generale
To read the article, please visit:www.abc.net.au