1/4
Interesting article. "Of the 20 most commonly used apps in China — ranging from photo editing to file sharing, from maps to streaming platforms — all have some kind of in-app loan services."
Nearly every modern bubble economy was characterized...
protocol.com/china/chinese-…
Interesting article. "Of the 20 most commonly used apps in China — ranging from photo editing to file sharing, from maps to streaming platforms — all have some kind of in-app loan services."
Nearly every modern bubble economy was characterized...
protocol.com/china/chinese-…
2/4
in part by an explosion in new – and so unregulated – forms of lending. Beijing is trying to regulate this app-based from of micro-lending, but this only helps if the new forms of lending are unnecessary froth on the structure of the economy and so can be suppressed.
in part by an explosion in new – and so unregulated – forms of lending. Beijing is trying to regulate this app-based from of micro-lending, but this only helps if the new forms of lending are unnecessary froth on the structure of the economy and so can be suppressed.
3/4
The problem, I would argue, is that in retrospect it usually, or even always, turns out that the structure of the bubble economy had evolved to the point where the rapid extension of credit was fundamental to its growth. If that is the case in China (and I think...
The problem, I would argue, is that in retrospect it usually, or even always, turns out that the structure of the bubble economy had evolved to the point where the rapid extension of credit was fundamental to its growth. If that is the case in China (and I think...
4/4
it is), it suggests strongly that regulators can at best shift the problem around, but they cannot really resolve it unless they are willing to accept a radical transformation of the economy and much slower growth.
it is), it suggests strongly that regulators can at best shift the problem around, but they cannot really resolve it unless they are willing to accept a radical transformation of the economy and much slower growth.
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