China Update

Does China face a looming debt crisis?

After decades of near double-digit growth, Chinese leaders have turned to using turbo-charged stimulus financing to maintain moderate growth. A consequence of this strategy has been a dramatic and rapid rise in debt. As of 2017, China’s total debt amounted to 255.7 percent of its gross domestic product (GDP). While a debt-to-GDP ratio exceeding 100 percent is not unusual, because China’s credit expansion over the past decade has risen so quickly, this trend has contributed to growing financial vulnerabilities that could threaten the long-term health of its economy.

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Categories: China Update

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