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No Minsky moment in foreseeable future, said former PBOC advisor

"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 suddenly.

Many believe that Chinese government's "well intended" efforts to cut down on excessive corporate leverage are causing the . . .

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