It’s nice to see that, while leaders come and go, some things remain the same, namely, the growing number of spinning plates the Chinese government attempts to prevent crashing to the floor via a credit and infrastructure binge at which future historians will marvel. Bloomberg provides the details in this story that includes the graphic below.
SOE: State Owned Enterprise, FAI: Fixed Asset Investment
Of course, to the enlightened modern-day economist, there is no such thing as “malinvestment”, so, there’s that…
