China¡¯s central bank is striking out on its own with signals of tighter monetary policy, widening a divergence with other large economies that will shape global capital and trade flows next year.
With most of the world¡¯s major nations still battling the pandemic and struggling to recover from deep recessions, China¡¯s economy is on track to grow by about 2% this year and more than 8% in 2021.
That¡¯s allowing People¡¯s Bank of China Gov. Yi Gang to turn his attention to a record debt burden, an issue that¡¯s come into sharp focus following a spate of corporate defaults in recent weeks.
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