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by JamisonM
4479 days ago
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The US economy was badly hurt by household debt because household spending fuels the US economy, this is not the case for the Chinese economy. An 8x increase in corporate debt in China in the last 5 years means something in an economy driven by industrial production instead of individual consumption. I do not know exactly what it means but I suspect there is some grounds for believing it may not be entirely good. Chinese households might be less inclined to take on debt, but they've still managed to rack up about 30+% of GDP worth, so they are working on it. |
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