Investors and economists are increasingly concerned that China’s recent growth has depended on, and is threatened by, increasing levels of risky debt. Most of this debt has not come from banks, but from shadow banks. Tonight’s talk will attempt to understand the shadow banking system in China by asking a number of questions.

Shadow Banking Crisis in China

Paul Armstrong-Taylor, Professor of Economics, The Hopkins-Nanjing Centre, SAIS, Johns Hopkins University

Monday, July 21, 7:15PM at The Wooden Box

Investors and economists are increasingly concerned that China’s recent growth has depended on, and is threatened by, increasing levels of risky debt. Most of this debt has not come from banks, but from shadow banks. Tonight’s talk will attempt to understand the shadow banking system in China by asking a number of questions. How large is it and how fast is it growing? Why has it replaced bank lending as the main driver of credit growth? Does it represent a serious risk for the Chinese and global economy? What can the government do about it?

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Paul Armstrong-Taylor is currently Professor of Economics at the Hopkins-Nanjing Center, the China campus of Johns Hopkins University’s School of Advanced International Studies (SAIS). Before coming to the Hopkins-Nanjing Center, he was a Visiting Professor of Economics and Finance at Shanghai Jiaotong University. He has previously worked as an investment banker atMorgan Stanley, as an economic consultant for London Economics, and as a management consultant for Monitor Group. His research and teaching interests include applied game theory, business strategy and finance. He earned his Ph.D. in economics from Harvard University.

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Young China Watchers is a dynamic group of China-focused young professionals with branches in Beijing, Shanghai, Hong Kong and London. Through regular speaker series and roundtables with senior figures in the China policy and business communities, it provides a chance for engaged individuals to interact and discuss the most pressing issues emerging from China today. It aims to build a global network, fostering the next generation of China thought-leaders.

This event is also co-sponsored with the Hopkins China Forum, organized by The Johns Hopkins University and its affiliated alumni associations worldwide.