Is 2015 Chinas Year of Deleveraging?

The video discusses China's credit growth since 2009, highlighting its role in economic growth and the challenges in measuring shadow credit. It explores the need for deleveraging, the role of the federal government, and draws comparisons with Germany's past financial issues. The video also addresses internal tensions between state and local governments and emphasizes the importance of hukou reform as a priority for China's future economic strategy.

What tensions exist between state and local governments and the federal government in China?

What is the significance of hukou reform in the context of China's economic reforms?