But Xi has an even bigger challenge on his hands, and not just Donald Trump’s trade war antics. Make that 13 trillion challenges.
This figure refers to the size, in U.S. dollar terms, of China’s onshore bond market. And generally, its growth and development have long been touted as a vital rite of passage for the second-biggest economic power. The trouble with debt markets, though, is they tend to expose cracks in financial systems.