Could Rising Household Debt Undercut China’s Economy?
Global debt exploded the last decade due to the easing of central banks. No place was this more the case than China.
The world's second largest economy accounted for 60% of all new debt worldwide.
Much of the push was mortages. This was responsible for 60% of the total Chinese debt. While China is not the highest in household debt, the question is will it affect the economy.
China is already seeing a slowing economy, a fact that is being felt globally. Another leg down could increase the chance of a recession around the world.
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The government can very well assume a percentage of the debt and in this way minimize its impact, finally all of them pay taxes
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