Banking Sector Reforms: Is China Following Japan's Footstep?

China registered double-digit GDP growth for more than three decades. Recently, the rate has slowed down considerably. The slow growth period, which Chinese policymakers refer to as the 'new-normal', has created enormous curiosity among scholars and policymakers. In particular, scholars often tend to project if China is destined to follow Japan's fate. Insufficient reforms in the banking sector in commensuration with the real economy in Japan resulted in an unprecedented financial catastrop...