If the allocation of resources is not done properly, the market cannot function efficiently and it will ultimately hurt growth.
More Quotes from Dominic Barton:
Banks make up the bulk of the Chinese financial system. The problem is that there are too few insurance companies and mutual funds to offer the variety of products, services and risk profiles the economy needs to flourish.Dominic Barton
The economic leg is much longer than the social leg in China. That's why the big new motto of the government is 'harmonious society'.
Dominic Barton
If you're one of the top ten banks, you have to be in the game, if only to understand it.
Dominic Barton
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