Why China's $9 trillion debt problem is getting worse
Thursday, 24 August 2023 That path forward is a treacherous one for President Xi Jinping’s government. To thread the needle, the provinces and cities whose borrowing drove the world’s largest infrastructure boom will need to roll back their spending and restructure debt — all without drastically dragging down economic growth. If they fail, it could thrust the world’s second-biggest economy into a prolonged malaise.
Speaking at the Chamber of Commerce in Yellowknife, Stephen Poloz, Governor of the Bank of Canada stated it succinctly, "For most Canadians debt is a fact of life, at least at some..