Sierra Investment Management‘s Frank Barbera, co-portfolio manager of the Sierra Core Retirement Fund, has published his latest piece “Global Slowdown: Made in China.”
The piece focuses on the effect China’s slowdown will have globally, asking “Will a rising wave of bad loans and defaults in China lead to contagion in the highly leveraged financial sector?”
“One fact beyond dispute is that the Chinese government, along with Chinese regional lenders and the shadow banking system have created an extraordinarily massive debt load over the last five years. The speed and magnitude in which this was built up is unparalleled by any other country in history.”
Indeed, “the world seems increasingly mired in a slowing growth climate which is putting strong...
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