The debt problem is so severe that it is significantly greater than the 23 trillion total debt held by the country’s national government, and there are concerns that the debt burden could reach 360% of China’s GDP. The debt problem is compounded by deflation, which is causing goods and services to become cheaper in China, leading to a drop in consumer spending and slowing down the country’s growth.
China’s Debt Problem
Greg P
Posted underBelt and RoadChinaDEBTDeflationEconomics Explained