BoE's Carney: China one of the biggest risks to global economy

High debt levels

Bank of England governor Mark Carney has warned China is "top of the list" of risks to financial stability pointing to the country's high levels of debt and its shadow banking system.

In an interview with the BBC to mark the tenth anniversary of the Global Financial Crisis (GFC), Carney questioned the sustainability of China's ballooning debt and the impact it could have on the wider market. Of all the major risks globally, the governor added, China was at the top of the risk register. In recent times, China has been engulfed in escalating trade war tensions with the US, with a number of commentators highlighting it as the biggest risk to markets. "China is a great source for growth for the global economy, it is an absolute economic miracle, lots of positives," ...