Chinese economist issues dire warning over debt crisis
Chinese economist issues dire warning over debt crisis
4 months ago
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The greatest example of monetary easing in history? After the financial crisis, China’s economy was saved by the opening of its credit flood gates. Can the government now wean the country off its debt dependence? Read more: http://on.ft.com/2uWL49t | Financial Times
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China’s debt has grown dramatically over the past decade and is one of the biggest economic challenges confronting the ruling Chinese Communist Party, which turns 100 this week.⁠ ⁠ Beijing identified the ballooning debt pile as a potential threat to economic stability, and in recent years tried to reduce the country’s reliance on debt for growth. But that deleveraging effort came to a pause for much of last year due to Covid-19.⁠ ⁠ A debt-fueled economic boom following the global financial crisi
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