China’s debt crisis continues to escalate

In an economic landscape reminiscent of Japan’s descent into stagnation in the early 1990s, China is currently facing a similar trajectory, albeit under different circumstances. A former adviser to China’s central bank, Li Daokui, has brought to light the staggering scale of debt accumulated by local Chinese authorities, a figure much higher than previously estimated. […] source: https://www.cryptopolitan.com/chinas-debt-crisis-continues-to-escalate/