Economic

All new roads in China lead to a mountain range of debt

“Imagine a plague of locusts stripping a ripe cornfield. Now, envisage debt ravishing an economy, leaving behind an empty, soulless husk. In China, President Xi Jinping’s economic team is well aware of the metaphor. Already a spot of financial ‘crop spraying’ has been ordered. Indeed, grappling with debt and corporate corruption will be the over-riding priorities for Xi during his second-term in office, despite the threat of a trade war with the United States looming large in the background.”

Source: All new roads in China lead to a mountain range of debt | Asia Times

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