A Towering Chinese Debt Mountain Looms Over Markets

Updated on
  • Xi faces a historic debt unwinding in a decelerating economy
  • "The government has made a complete hash of the past 6 months"

China's Debt Mountain Looms Behind Market Swings

Lost in all the Chinese stock and currency market gyrations, policy missteps and mixed data is this economic reality: The government is constrained by a credit bubble that has ballooned to $28 trillion in an economy growing at its slowest pace in 25 years.

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