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AUG 27, 2013 - Business Insider

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CHAOTIC AND BEAUTIFUL: Here Are 9 Countries And Their Tumultuous Experiences With Deleveraging

As China engages with its credit problem, Morgan Stanley's Jonathan Garner asks in a new note, "Can China achieve a 'beautiful' deleveraging?" "This phrase was first coined – by Ray Dalio of Bridgewater Associates – to describe a process whereby a country brings a period of excessive credit growth to a halt, and achieves an economic rebalancing, without an overly pronounced or prolonged recession," said Garner. Plenty governments have tried, but few have succeeded. "The most successful deleveragings, such as in Korea or the US, were associated with both Net Exports and ... Read More

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