An interesting trend is emerging from a survey of fund managers run by Bank of America Merrill Lynch

An interesting trend is emerging from a survey of fund managers run by Bank of America Merrill Lynch. The survey asked what the managers fear as potentially being the biggest economic risks they could confront. The proportion of managers who nominated an economic hard landing in China that triggered a collapse in commodity prices stood at 26 per cent in December, 37 per cent in January and 46 per cent in February. What worries financial markets most, but not solely, about China is what brought Lehmans and Greece unstuck - debt. From year-end 2008 through the third quarter of 2013, assets on the balance sheets of Chinese banks grew by $US15.1 trillion to $US24.3 trillion - an unprecedented expansion of credit anywhere, anytime. With signs of a slowing Chinese economy concerns are now being raised about the ability of Chinese borrowers to service their debt. (VIEW LINK)