2016 has been a year filled with black swan moments.

First there was Brexit, then Donald Trump's election as US president, and now the resignation of  Italian Prime Minister Matteo Renzi, which could lead to a European banking crisis.

Has the world economy reached a cross-roads and where is it headed next year? Our Laura Luo talked to economist Zhu Ning at the recent Caixin Summit, and the conversation began with why Chinese banks suddenly delayed issuing mortgage loans.