China is increasing enforcement of laws against lending at interest rates above 24% and in the 24-36% gray zone, preventing the high-rate consumer borrowing that would be Ponzi-style financing; Minsky would call this non-productive borrowing that makes economies vulnerable.
factualpending
Speaker
Jack FarleyEvidence Quote
“There was a new enforcement of a law... about lending at interest rates above 24%... that's what Minsky called... Ponzi borrowing.”
Source
Michael Pettis: China’s Consumption Crisis Is The World’s Crisis— The Monetary Matters NetworkCreated: 8/11/2026, 7:19:34 AM
My Notes
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