Vikas Sharan
Expert in wasting precious words on mundane thoughts
Shadow Banking in China, The Proverbial ‘Elephant in the Room’ Shadow banking in China, the proverbial ‘elephant in the room’ China required more than three decades of growth exceeding 10% to become the second largest economy in the world. However, the banking sector’s assets tripled in just six years from RMB53 trillion in 2007 to over RMB150 trillion in 2013, excluding the size of the ‘shadow’ banking system, which has expanded substantially in recent years.
Although ‘fair’ estimates of the exact size of this ‘elephant in the room’ are not available, the analyst community considers it to be in the range of USD2.3–4.5 trillion (RMB14.2-27.9 trillion) or 25–50% of China’s GDP. Varied Size Estimates (USD Trillion) Source: Thomson Reuters Chinese Shadow Banking Report; Global and Chinese Shadow Banking Risk There is uncertainty regarding whether China’s shadow banking system will trigger another financial and economic crisis; however, the sector has unanimously attracted interest. —Fitch Ratings, June 10, 2013 “Shadow banking is a risk for China.” India Budget 2014-15 Analysis. When the Finance Minister Mr. Arun Jaitley assumed office earlier this year, he had his task cut out for him. The country was slowly descending towards the “Hindu rate of growth” (~3.5%) over the past two years. Fiscal numbers were amiss, indecisiveness and red tape had affected government operations, supply side bottlenecks were creating stagflationary conditions, and business sentiment was in doldrums.
Yet, the first budget from the Finance Minister seems to be a concrete step to rekindle growth through fiscal consolidation, investment cycle revival, driving the manufacturing sector, supporting agriculture and restoring business sentiment. To begin with, the fiscal deficit for the year has been pegged at 4.1% of GDP in 2014–15; this would be reduced further to 3% by 2016–17. Despite the steep target and sluggish macroeconomic conditions, the Finance Minister has decided to dig his heels in and work on this admittedly hard task.
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Media Agencies Benchmark. Slide show presentation : information: news, videos, photos and comments about slide show presentation from the best web sites and blogs. Global Thinkers, Enter the Digital Universe. Welcome to Writing-World.com! About Creative Writing -- Creative Writing Advice. Writing.org - Advice for Freelance Writers. The Online Community for Writers. For What I Could Never Own. Vikas Sharan. Aim the frame. Download Free Organiser, Organiser 2.5 Download.
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