China has a mounting debt problem. Not just over-leveraged companies, but a rapid build-up on household balance sheets that is hitting records. You can blame youth for a borrowing binge that, if left unchecked, could be China’s next credit bubble. Household debt hit levels of 57% of gross domestic product in the third quarter, according to Bloomberg Intelligence analyst Matthew ...

After the financial crisis, Europe’s political leaders put together a complex set of rules to make it harder for future governments to bail out banks. That system is looking so full of holes that one wonders what the point of it is. Two episodes in a fortnight show that taxpayers are still very much on the hook for the financial ...

Thirty years ago, India endured its last big financial crisis when it had to send gold held in the central bank’s vaults over to London to borrow hard currency from the Bank of England. Luckily, the flights landed safely, and so did India. The turnaround in economic thinking triggered by that balance-of-payments humiliation saw the state shed controls on production ...