Don't bet on China, adviser warns.(Brief Article)

Australasian Business Intelligence,  March, 2005  by Newman, Geoffrey

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Mar 22, 2005 (The Australian - ABIX via COMTEX)

Australian companies have been warned to be cautious about relying on Chinese economic growth. Sir Howard Davies, former head of the UK Financial Services Authority, said that China must reform its financial system for its strong economic growth to continue. He said that the Chinese economy was too reliant on bank financing while its debt and equity markets were undeveloped. Davies said that better corporate governance and regulation were needed, and added that China may not be able to implement the needed reforms.

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