The UK’s strong financial links with China risk leaving it exposed to a “hard landing” from the country’s credit boom, the Bank of England said in research published on Friday.
Rapid credit growth in China has led policymakers to worry about the risk of a sudden slowdown in one of the world’s largest economies — and the impact its aftershocks would have across the globe.
“China’s credit boom is one of the largest and longest running ever recorded,” BoE staff wrote. “Similar credit booms have typically preceded crises in other countries.”
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