Financial links to Hong Kong mean that Chinese slowdown could have serious UK impact
The Bank of England has warned that the health of China’s economy poses a greater risk to the UK’s financial stability than previously realised.
New analysis from the Bank has found that a sharp economic slowdown in China would have a serious impact on the UK. If China’s credit boom blows up, Britain would suffer serious economic harm, it says, adding: “China’s credit boom is now one of the largest and longest running ever recorded. Indeed, rapid credit expansions, such as China’s, have typically preceded financial crises.”