Thursday, August 27, 2015

TODAY'S BIG NUGGET: What's Really Been Driving the Chinese Economy

The Man Who Got China Right (Joe Nocera) from the New York Times
" The fast-growing Chinese economy was being sustained not just by its export prowess, but by a property bubble propelled by mountains of debt, and encouraged by the government as part of an infrastructure spending strategy designed to keep the economy humming. (According to the McKinsey Global Institute, China’s debt load today is an unfathomable $28 trillion.)"

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