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But the regulatory system was largely a bystander during the build-up of leverage and the erosion of credit standards in the boom and has been powerless as the boom has turned to bust.
Zhiwei Zhang, an economist at the investment bank Nomura, warned in a report last Friday that "China is displaying the same three symptoms that Japan, the U.S. and parts of Europe all showed before suffering financial crises: a rapid build-up of leverage, elevated property prices and a decline in potential growth".
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Phasing this out would discourage the build-up of excessive leverage.
Mr. Trichet said the financial crisis of 2008 was merely a symptom of "the excesses and imbalances accumulated over the previous decades" namely, "the expansion of debt, the build-up of risk and the increase in leverage".
Check for a build-up of earwax.
Bottom up techniques involve built up of molecules.
Shilling: We're going through a massive de-leveraging of two sectors of the economy that built up huge leverage over the past three decades.
With Britain already requesting the repatriation of some powers from Brussels, he may be trying to build up his bargaining leverage with France and Germany, which oppose Britain's demands.
"They are trying to build up leverage for something, politically and psychologically, for negotiations with the United States," said Ivan P. Hall, author of "Cartels of the Mind" (Norton, 1997), an exploration of Japanese protectionism.
Since meeting with Mr. Xi last year, Mr. Modi has also built up leverage by strengthening his relationships with the United States, Japan and Australia.
I'm trying to build up leverage.
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