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[ltr][rtl]Release Date: 2018/10/17 17:00[/rtl] • [rtl]191 times read[/rtl][/ltr]
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[Follow-up]
The Standard & Poor's credit rating agency warned of an oversized risk threatening the global economy due to clandestine Chinese practices.
China's undeclared debt is close to six trillion dollars, raising concerns about the future of the world's second-largest economy, it said.
China kept the debt out of the official budget, so as not to be constrained by borrowing, given the high level it has reached in recent years.
According to Business Insider, China's debt is only the visible part of the iceberg, while the larger part is invisible and foreshadows a collision similar to that of the famous Titanic.
S & P notes that the risk of this high level of debt is not only for China but also for the entire global economy, given the impact of Asian giants on markets.
Experts attribute the rising Chinese debt to increased spending on domestic projects, and Beijing's lack of an important margin for the contribution of local governments.
It is estimated that China's debt in the non-financial sector will reach 300 percent of the GDP of the country, while the figure would be 242 percent in 2016.
Adding to fears in China is that the current account balance will fall this year by 1.3 percent, compared to the level recorded in 2017.
https://translate.google.com/translate?depth=1&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=auto&tl=en&u=http://www.alliraqnews.com/modules/news/article.php%3Fstorytopic%3D41%26storyid%3D21752
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China threatens global economy with "dangerous secret"
[/ltr][ltr][rtl]Release Date: 2018/10/17 17:00[/rtl] • [rtl]191 times read[/rtl][/ltr]
[ltr]
[Follow-up]
The Standard & Poor's credit rating agency warned of an oversized risk threatening the global economy due to clandestine Chinese practices.
China's undeclared debt is close to six trillion dollars, raising concerns about the future of the world's second-largest economy, it said.
China kept the debt out of the official budget, so as not to be constrained by borrowing, given the high level it has reached in recent years.
According to Business Insider, China's debt is only the visible part of the iceberg, while the larger part is invisible and foreshadows a collision similar to that of the famous Titanic.
S & P notes that the risk of this high level of debt is not only for China but also for the entire global economy, given the impact of Asian giants on markets.
Experts attribute the rising Chinese debt to increased spending on domestic projects, and Beijing's lack of an important margin for the contribution of local governments.
It is estimated that China's debt in the non-financial sector will reach 300 percent of the GDP of the country, while the figure would be 242 percent in 2016.
Adding to fears in China is that the current account balance will fall this year by 1.3 percent, compared to the level recorded in 2017.
https://translate.google.com/translate?depth=1&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=auto&tl=en&u=http://www.alliraqnews.com/modules/news/article.php%3Fstorytopic%3D41%26storyid%3D21752
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