There will be no Minsky moment for China

Predictions of an economic downfall for China akin to that of Wall Street in 2008 vastly underestimate Beijing’s power and ability to stem any crisis.

It has become fashionable lately to borrow American financial crisis lexicons such as 'Lehman Moment' or 'Minsky moment' to describe the dark cloud hanging over China’s economy. Analysts are spotting similarities between the US just before the Wall Street meltdown and present day China.

Concerns over shadow banking, credit default and local government debt increasingly weigh on investors' confidence in the world’s second largest economy, which has been responsible for much of the global growth in the last few years.

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