Professor Robert Whitelaw comments on China's increased debt-to-GDP ratio
— March 9, 2016
Excerpt from China Radio International -- "Obviously, the [Chinese] government wants to boost confidence at the moment, and that's absolutely the right thing to do. There's been a serious issue with regard to capital flight, for example. And anything that reduces confidence in the ability of governments--the central government or the local government--to pay their debt is obviously going to reduce confidence and then increase the possibility of capital flight because people are going to fear that perhaps it will have negative implications for the currency."