But Evergrande’s plight underscores the heavy role asset price inflation played in China’s fast-pace growth, and there could be consequences for regional government finances and consumption, Asian Development Bank (ADB) president Masatsugu Asakawa said
TOKYO: China has sufficient buffers and policy tools to prevent debt-riddled developer China Evergrande Group from triggering a global financial crisis, Asian Development Bank (ADB) president Masatsugu Asakawa said yesterday.
But Evergrande’s plight underscores the heavy role asset price inflation played in China’s fast-pace growth, and there could be consequences for regional government finances and consumption, Asakawa said.
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