Economist Shaun Roache examines the growth of Chinese onshore bonds – leading to their recent inclusion in a major global bond index – and discusses the likely ramifications of the market’s opening to overseas investors. Roache concludes that the vast size of the Chinese market means it is inevitable that its influence will ultimately catch up to that the US Treasury market. This short but thought-provoking overview will help readers understand the developments in China’s bond market that are likely to ripple across global capital markets in coming decades.
About the Author
Shaun Roche is the Asia-Pacific chief economist at S&P Global.