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“The crucial issue to watch is how these announced measures could be implemented in practice. It is not going to be a smooth process, as political considerations and the soft budget constraints and guaranteed government bailouts for Chinese SOEs and state-owned banks will continue to foster the existing problems and risks and thus stand in the way of improving debt sustainability,” said Alex He, a research fellow at the Canada headquartered think tank Centre for International Governance Innovation.

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  • A. J. R. Groom

    Professor A. J. R. Groom is professor emeritus of international relations at the University of Kent at Canterbury. He teaches regularly at Sciences-Po Paris, the IEP de Lille and the Diplomatische Akademie Wien.

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