Xi’s China will only showcase illiberalism and dogma

First published: ft.com, 20/11/2017

No real deleveraging and 2018 will probably see more monetary easing to assuage markets

8 HOURS AGO George Magnus 8 comments The Chinese Communist party’s 19th Congress continues to shape the way we think about China, policymaking and the state of the country’s financial and capital markets. An increasingly authoritarian China will try to make the economy and society work better, not become more liberal. It will try to engineer a harmless deleveraging, which is without precedent. Its large savings are likely to remain trapped, limiting the oft-cited internationalisation of the renminbi. These issues matter, not least for investors because China’s $7tn equity market and its $10tn bond market are the world’s second-, and fourth-largest, respectively. Next year, Chinese A-shares will be included in the MSCI emerging markets benchmark….Read more:

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