China’s Debt Problem Is 300% Bigger Than America’s
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Microsoft NewsEconomics Explained
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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