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Global economic collapse coming your way?
Or it is just western media trying to screw China?
China | The Guardian
China's property frenzy and surging debt raises red flag for economy
by Agence France-Presse / Today, 7:52 AM
Outstanding loans have risen sharply to 40% of GDP but analysts fear the end of the credit binge could trigger a crisis for the wider world
Chinese household debt has risen at an “alarming” pace as property values have soared, analysts have said, raising the risk that a real estate downturn could wreak havoc on the world’s second largest economy.
Loose credit and changing habits have rapidly transformed the country’s famously loan-averse consumers into enthusiastic borrowers.
Related: 'This is just the start': China's passion for foreign property
Related: How Australian households became the most indebted in the world
Continue reading...
Or it is just western media trying to screw China?
China | The Guardian
China's property frenzy and surging debt raises red flag for economy
by Agence France-Presse / Today, 7:52 AM
Outstanding loans have risen sharply to 40% of GDP but analysts fear the end of the credit binge could trigger a crisis for the wider world
Chinese household debt has risen at an “alarming” pace as property values have soared, analysts have said, raising the risk that a real estate downturn could wreak havoc on the world’s second largest economy.
Loose credit and changing habits have rapidly transformed the country’s famously loan-averse consumers into enthusiastic borrowers.
Related: 'This is just the start': China's passion for foreign property
Related: How Australian households became the most indebted in the world
Continue reading...
