Mr Xiao frets that short-term products are financing long-term projects, creating a maturity mismatch.
That includes lots of murky shadow-banking products and short-term loans unsuitable for financing long-term projects like bridge-building.
As Tim Geithner, the Treasury secretary, put it in a widely cited speech last summer, banking is anything that involves financing "long-term risky and relatively illiquid assets" with "very short-term liabilities".
From 1980 or so onward, however, that system gradually broke down, partly because of bank deregulation, but mainly because of the rise of "shadow banking": institutions and practices — like financing long-term investments with overnight borrowing — that recreated the risks of old-fashioned banking but weren't covered either by guarantees or by regulation.
Spending under the new program will be broken down into financing long-term fundamental research; support for grand challenge efforts; the creation of new research centers; the establishment of a research infrastructure, and the study of ethical, legal and societal implications of nanotechnology.
The company plans to expand through mortgage financing, long-term operating leases and borrowing under its line of credit.
In Norway, there is a view that reablement needs to be central to efforts aimed at meeting the major challenge of financing long-term care.
Knowing the massive numbers of sick people, financing long-term care might be unsustainable.
Mittelmark et al 40 also pointed to the difficulty of financing long-term prevention efforts.
Further research regarding financing, long-term sustainability and the impact of networks on HIV prevalence and adherence is required.
In practice, LAMIC governments have avoided providing or financing long-term care [ 36], and few if any have comprehensive policies and plans.
