A Debt That Could Stunt China's Economy
Big Take
00:00
The Dangers of Slowing Growth in China
A lot of these indebted places are basically looking for a handout from the central government. If they give money to one city every other city in problems in China is going to come to them and say hey you paid off guerajos debts how come you won't pay off my debts? A permanent slowdown of Chinese growth is definitely going to change China's global standing because a lot of China'sglobal standing is based on its economic power.
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