What could be the next Asian credit growth crisis?
Current slowdown in credit may cause bigger headaches, says Morgan Stanley.
But they say credit growth in Asia is not yet a cause for concern.
Here's more from Morgan Stanley:
| We don’t see credit growth as excessive, in spite of the many concerns being raised. No major economy in Asia has seen excess credit growth comparable to what preceded the worst banking crises around the globe. Indeed, in all four major economies we track in our report – China, India, Korea and Australia – credit is starting to stabilise relative to GDP. This illustrates how tightened policy has already had an impact on credit and suggests that if a crisis were to hit, it would be because too little was done too late, not because policy-makers were oblivious to the risks. |
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