China’s credit-to-gross domestic product “gap” stood at 30.1 percent, the highest for the nation in data stretching back to 1995, according to the Basel-based Bank for International Settlements. Readings above 10 percent signal elevated risks of banking strains, according to the BIS, which released the latest data on Sunday.Another deteriorating statistic.
The gap is the difference between the credit-to-GDP ratio and its long-term trend. A blow-out in the number can signal that credit growth is excessive and a financial bust may be looming.
...While the BIS says that credit-to-GDP gaps have exceeded 10 percent in the three years preceding most financial crises, China has remained above that threshold for most of the period since mid-2009, with no crisis so far.
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