China’s debt is poised to soar over the next five years, severely reducing the chances the nation can avoid a financial crisis. Bloomberg Economics economists Fielding Chen and Tom Orlik estimate China’s total debt will reach 327 per cent of gross domestic product (GDP) by 2022, double the level in 2008. That will put China among the most indebted countries in the world. “The rapid growth and high level of China’s debt have already placed them in the danger zone for a financial crisis,” said the economists. “Adding debt equivalent to almost 70 per ...
China debt surge seen weakening defence against financial crisis
'The rapid growth and high level of China's debt have already placed them in the danger zone for a financial crisis' said the economists.
Bloomberg Last Updated at November 22, 2017 04:37 IST