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As China's economy cools down, the "old trick" of having state-run banks finance massive...

As China's economy cools down, the "old trick" of having state-run banks finance massive investments is no longer working, says China expert Patrick Chovaneck. Meanwhile, a bursting of China's housing bubble will take a toll on overleveraged property developers, and export growth isn't what it used to be. A major shift in GDP composition from investment to consumption might be needed to stave off a "hard landing."
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