Xu Gao’s 9,000-word article, ‘Where Did Dalio Go Wrong on National Debt?’, comes as China’s Politburo is preparing to set policy tone for rest of year
A prominent Chinese economist has pushed back against Bridgewater Associates founder Ray Dalio’s views on the debt situations in China and the United States, as debate over the fiscal directions of the world’s two largest economies heats up.
Xu Gao, chief economist at Bank of China International (China), said in a recent 9,000-word article that Dalio was mistaken in calling for China to deleverage, arguing that such a view “misjudges” the country’s debt dynamics.
“China’s recent debt-rollover issues were not caused by excessive borrowing, but by overly harsh deleveraging policies that disrupted liquidity,” Xu wrote in the article titled “Where Did Dalio Go Wrong on National Debt?”
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