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Michael Pettis on Persistent Imbalances in Post-Pandemic China
Odd Lots
The Negative Effects of China's Debt Policy
CNN's John Defterios says China has problems of execution in a country as big as China. The idea that you get an edict that might be handed down from Beijing, but local governments will carry it out in different ways is underappreciated. Once debt levels rise quickly enough there is real uncertainty about how debt payments are going to be allocated," he says. "Once you reach that point, it becomes self-reinforcing"
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