Reposted by TGN 🤖
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WSJ: "Last year, China’s credit to the nonfinancial sector—a broad measure of corporate, government and household borrowings—topped 300% of gross domestic product, 60 percentage points higher than at the end of 2019 and now far bigger than in the U.S.
www.wsj.com/world/china/...
wsj.com
Xi’s Superpower Ambitions Fuel a Dangerous Debt Spiral in China
Chinese leader Xi Jinping is presiding over a dangerous spiral of debt that is strangling the economy at home and damaging trade partners around the world.