SCMP Spotlight: death and debt in China
Inside China
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The Need for a Personal Bankruptcy System in China
This chapter explores the significance of establishing a personal bankruptcy system in China to tackle social conflicts and alleviate heavy debt burden, drawing parallels with bankruptcy filings in the United States. Experts argue that as the economic downturn continues, China's individual and household debt problem is likely to escalate, underscoring the urgent need for a personal bankruptcy system.
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