‘Casting off the Real’ – Beijing’s Cryptic Warnings About Finance Taking Over the Economy

Over the last couple of years, a cryptic idiom has crept into the way China’s top leaders talk about risks in the country’s financial system: tuo shi xiang xu (脱实向虚), which loosely translates as “casting off the real for the empty.” Premier Li Keqiang warned against it at his press conference at the end of the 2016 National People’s Congress (NPC). At this year’s NPC, Li … http://bit.ly/2wqjzr5

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