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Even China's Party Mouthpiece Is Warning About Debt
- `Authoritative person' is cited in full-page commentary
- China must face up to bad-loan risks, not hide them: article
China's Debt: How Is It Impacting the Economy?
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China’s leading Communist Party mouthpiece acknowledged the risks of a build-up of debt that is worrying the world and said the nation needed to face up to its nonperforming loans.
High leverage is the “original sin” that leads to risks in the foreign-exchange market, stocks, bonds, real estate and bank credit, the People’s Daily said in a full-page interview with an unnamed “authoritative person” starting on page one and filling the second page on Monday.