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4min chapter
Has China Peaked?
Foreign Policy Live
Why the World Should Worry About China's Debt Load
Michael Wolraich: China's debt to GDP ratio is at 297% and rising rapidly. He says local government debt alone is estimated by Goldman Sachs to be about $23 trillion which is larger than China's entire economy. "I don't see it as a purely economically decentralized system," he adds.
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