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<p>As highlighted by several institutions, including the International Monetary Fund,
there are material risks associated with indebtedness in China.</p><p> </p><p>The
Financial Policy Committee of the Bank of England, which is responsible for monitoring
risks to financial stability in the UK, reflected the risk of a severe recession in
China, which would encompass factors such as its debt levels, in its 2019 stress tests
of UK banks. The FPC concluded that the UK banking system would be resilient to this
risk.</p><p><strong> </strong></p>
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