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Hence interest-rate cuts and the easing of credit controls should be more potent than elsewhere.
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First, China has already reduced interest rates three times in the last few months and eased some credit controls.
Beijing's decision to ease credit controls aimed at reining in rising debt "is starting to yield results," said Hui.
Research conducted by the Forum of Private Business found that late payment is a major problem for a lot of businesses, but can be eased by putting credit control facilities in place.
And some indicators pointed to an easing of credit conditions in Europe, too.
"There is no sign yet of significant easing of credit conditions.
In many ways, debt is all about convenience and the ease of credit cards makes it all the more so.
In more regulated times, credit controls or the gold standard restricted the creation of credit.
This year the credit controls were imposed by a troubled banking system, which has been slow to respond to the Fed's efforts to ease credit.
A cap on welfare spending was lifted slightly after an easing of universal credit cuts.
[B1.] GRADUAL IMPROVEMENT Signs of easing in the credit market are emerging.
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