China's credit crunch: could China's growth be the next victim of the debt crisis?

Author: 

Al Jazeera

Publication date: 

Wednesday, 26 June 2013

Type: 

  • Video

Producer: 

External to ACUI

Project theme: 

During the financial crisis the world looked to China to stabilise the global economy, and with a massive $586bn stimulus programme, it did just that. Much of the money went to local authorities for infrastructure programmes, but another subsequently large amount went to the banks leading to a credit explosion. It therefore came as a shock to the banking system, markets and investors alike, when China appeared to be facing the same fate that befell Lehman Brothers in the US.