China says it's on a mission to curb high levels of borrowing in its economy — and it even aims to cut money supply next year. But people who watch the country closely aren't sure that will happen.
Experts question whether the world's second-biggest economy can kick its addiction to debt-fueled growth. While Beijing may want to slow the country's growth, the risk is that a sharp deceleration may derail the entire economy.
"I think it's very clear, and I think the leadership knows this. They have this very difficult problem of balancing financial risk — which is too much credit growth — against economic growth," said Fraser Howie, independent analyst.
"It's a problem of their own making. For too long, they allowed credit to expand. For too long, they focused on GDP growth rate," Howie told CNBC recently.