China is leveraging high debt to fuel growth: IATA
IATA chief economist Brian Pearce, speaking at the CAPA-ACTE Global Summit, stated (12-Oct-2017) China is leveraging high debt to fuel growth. "Interest rates are incredibly low... servicing that debt doesn't cost much", he said. Mr Pearce added asset prices globally are "very high", while he believes there is "no reason" for banks to increase interest rates globally in the short to medium term. "The inflation is not there", he explained.