China's Debt Bomb

Milken Institute Review: A Journal of Economic Policy, 2009

Posted: 4 Oct 2009

Date Written: October 2, 2009


As this piece is being written, the Obama administration is exploring the idea of creating one or more aggregator institutions, “bad” banks, to take illiquid assets - mostly mortgages and mortgage-related securities of uncertain value - off the hands of the private banking system. Indeed, by the time you read this, the bad bank(s) may already have been created.

Keywords: Nonperforming assets, China, financial crisis, banking regulation

JEL Classification: G2, O1, O53

Suggested Citation

Li, Tong, China's Debt Bomb (October 2, 2009). Milken Institute Review: A Journal of Economic Policy, 2009, Available at SSRN:

Tong Li (Contact Author)

Milken Institute ( email )

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Santa Monica, CA 90401
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310-570-4625 (Fax)

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