Is rapid credit growth in Asia something to be worried about?

For emerging Asia as a whole, private sector credit as a share of GDP has surged over the past few years and is now at an all-time high, leading some commentators to suggest that the region could be planting the seeds of the next financial crisis. We are most concerned about trends in Hong Kong, Vietnam and China. In the rest of the region the rise in credit has been relatively gradual.

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