Video On Demand

Grasping Shadows Report Launch: China's Campaign against Shadow Banks and Its Consequences

April 10, 2023 • 2:00 – 3:00 pm EDT

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China faces a long-term, structural economic slowdown and the rising risk of a financial crisis. Explaining how this slowdown began requires understanding the campaign Beijing launched in 2016 to reduce systemic financial risks by controlling the growth of the "shadow" or informal banking system. Please join the Trustee Chair in Chinese Business and Economics for this event, featuring our Senior Associate (Non-resident) and Partner at the Rhodium Group, Logan Wright, as he presents the findings of his new report, Grasping Shadows: The Politics of China's Deleveraging Campaign. In this new Trustee Chair report, Dr. Wright analyzes China's multi-year deleveraging campaign and the end of China's unprecedented credit expansion after the global financial crisis, as well as the political tradeoffs involved. 

Trustee Chair Scott Kennedy will then moderate a discussion on the report and implications for both China's future economic trajectory and the U.S. policy community with Martin Chorzempa of the Peterson Institute of International Economics and Brad Setser of the Council on Foreign Relations. 

This report is made possible by generous support from the Smith Richardson Foundation. 


Logan Wright
Senior Associate (Non-resident), Trustee Chair in Chinese Business and Economics
Scott Kennedy
Senior Adviser and Trustee Chair in Chinese Business and Economics
Martin Chorzempa
Senior Fellow, Peterson Institute for International Economics
Headshot of Brad Setser
Whitney Shepardson Senior Fellow, Council on Foreign Relations