Of course even if there were no entrepreneurs seeking loans or financing necessary to grow, the thinking of both Schools would still be very similar, and as such, very flawed.

FORBES: Monetarism and Keynesianism: Identical Sides of the Same Adolescent Coin

But Fitch thinks that ratio is already closer to 6%, on a less forgiving view of loans to the financing vehicles of local governments.

ECONOMIST: China's economy

According to the report, as of May 22, the four banks issued only 340 billion yuan in new loans, with short-term loans and bill financing remaining the dominate type.

FORBES: China Banks Struggling To Give Money Away; Equities Decline