China by the numbers

In my latest post about climate change, I argued that China’s unique economic system explains a big chunk of the country’s carbon dioxide (CO2) emissions, and by extension of the world’s CO2 emissions. In particular, I made a link with monetary policy by pointing out that credit supply by the People’s Bank of China (PBoC) lied behind the housing and infrastructure construction boom that has taken place in China. Today’s post will explore that phenomenon further.