The Economist: Finance and Economics articles summarised (21st June 2019)

 

The Economist: Finance and economics articles summarised (21st June 2019)
Chinese debt
Chinese local government debt has been described as a "grey rhino" event, distinct from a "black-swan" in that it is obvious but ignored. Chinese debt is 38% of GDP, if local government debt is included it rises to 70%. Unfortunately local governments are responsible for 85% of public expenditure but 50% of revenues, as a consequence they borrow through off balance sheet companies called "local . . .

To read this article, please log in or sign up to one of our subscription packages.