China’s unsustainable debt levels may trigger large-scale corporate defaults, OECD warns

Risks of large-scale corporate defaults are mounting in China, despite economic growth that “remains robust by international standards”, according to a new report.The Paris-based Organisation for Economic Cooperation and Development (OECD) found that sagging domestic demand and weak export orders have led Chinese authorities to swiftly resort to stimulus measures, through expansionary monetary policy, tax cuts and infrastructure spending.The OECD is an influential intergovernmental economic… Source link

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Hongkongers’ MPF funds should not be used to buy property, says OECD pensions chief

Hong Kong should follow Singapore and other markets in allowing people to pay more into their Mandatory Provident Funds (MPF). But it should not allow employees to take money out their pension pools to buy their own homes, according to an Organisation for Economic Co-operation and Development (OECD) pension expert. Pablo Antolin, principal economic and head of OECD Private Pension Unit, said if Hongkongers were allowed to withdraw money from the pension system as initial down payments on first homes or for their children’s education, it would further reduce the…

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