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No Minsky moment in foreseeable future, said former PBOC advisor

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"In the foreseeable future, China will not face a Minsky moment and it has not come to a point of financial crisis," said Yu Yongding, a prominent economist in China and former advisor to the People's Bank of China (PBOC), in a public conference on Wednesday.

Yu believes China have sufficient means and room to avoid a Minsky moment.

The “Minsky moment,” named for American economist Hyman Minsky, refers to the moment at which the value of assets collapses . . .

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