China's Debt Battle Has Global Growth at Stake
- China is the biggest single contributor to global GDP growth
- Plan to rein in debt will have ramifications for world economy
China Posing Risk to Global Economy
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It used to be that when America sneezed, the world caught a cold. This time around, it’s the risk of a sickly China that poses a bigger threat.
The world’s second-largest economy is now trying to ward off the sniffles. While output is still growing at a pace that sees gross domestic product double every decade, the problem remains that much of that has been fueled by a massive buildup of credit.