China Debt Buildup One Of The Largest In History: Goldman
China’s level of debt sets it apart from EM peers, and the rate of its debt buildup is nearly unparalleled
It turns out that China hasn’t just had a credit-fuelled expansion, it’s had one of the biggest in modern times. As new debt becomes less effective at creating growth, we’re approaching the point where a crash becomes increasingly likely and research from Goldman Sachs shows that a larger buildup usually means a harder fall.
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