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Citi's Chief Economist Says China Is 'Financially Out of Control'

Corporate debt is the elephant in Beijing's room.
Bloomberg business news

China's Debt Burden Rises, What Happens Next?

Willem Buiter, Citigroup chief economist, sees a storm brewing in China.

This week, he estimated that there is a 55 percent chance of a made-in-China global recession in the not too distant future, which he defines as a period of sub-2 percent global growth.