Digging into the risks in China's mounting debt
If the debt triggers a crisis, the spark is more likely to come from corporations, banks
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SOME prominent investors are worried about China's debt. George Soros sees an "eerie resemblance" between conditions in China now and those in the United States leading up to the financial crisis in 2008. "It's similarly fueled by credit growth and an eventually unsustainable extension of credit," Mr Soros told the Asia Society in New York in April.
BlackRock CEO Laurence Fink was asked about China's mounting debt on Bloomberg TV in May. "We all have to be worried about it," he said, adding that he remains bullish on China's economy in the long run.
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