Business Daily
The onward march of Chinese debt
Oct 1, 2019
Shanghai-based journalist Liyan Ma, business strategy consultant Shaun Rein, and economist Linda Yueh discuss China's growing debt problem, the impact of consumer credit on the younger generation, and the challenges faced by the government in regulating shadow banking. The podcast explores the dichotomy of China's economic growth amidst celebrations and protests, emphasizing the need to address the mounting debt crisis to prevent severe economic repercussions.
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Quick takeaways
- Increasing consumer and corporate debt levels in China raise concerns about economic stability and financial risks.
- The shadow banking system in China poses challenges for government oversight and regulation, highlighting the need to address debt issues.
Deep dives
China's Rising Consumer and Corporate Debt
In China, both consumers and corporate entities are increasingly taking on debt, with concerns rising over the sustainability of this trend. Consumer credit has become easily accessible through platforms like Alipay and WeChat, leading to a surge in borrowing among young citizens. The rapid growth in debt poses challenges for personal financial stability, with individuals risking negative consequences on their credit ratings and ability to access future loans.
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