Articles from the author

As Beijing’s known risks accumulate, the probability of some unexpected event having an outsize impact also increases

Move is dangerous for a country running a fixed exchange-rate regime where asset prices are already elevated

China has to make hard choices to come anywhere near the sums projected

As remedy, it needs to make a move on with full-scale reforms of capital markets

Only by letting businesses fail will the state stop its practice of offering safety nets

A shadow pipeline through over-invoicing stashes funds in private accounts abroad