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China’s debt may be far greater than commonly believed

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At first glance, China’s national debt burden of less than 50% of GDP appears manageable, but the figure that includes all sources is comparable to — or worse than — that of the US during the 2008 financial crisis, writes Christopher Balding. Yet Beijing is following a policy of trying to grow its way out of the debt mire that is unlikely to work in the current environment.

Bloomberg (8/7)