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Opinion: Beijing needs to accept slower GDP growth, less investment and failing companies in order to put the brakes on runaway debt

China's public finances are in worse shape than is commonly understood," writes Christopher Balding. "And as debt levels rise and the economy remains sluggish, the government's ability to boost growth looks increasingly precarious."
1 year ago
Sky Canaves
By Sky Canaves
Sky Canaves previously reported for The Wall Street Journal in Beijing and Hong Kong, where she covered media, culture, social issues, and legal affairs, and served as the founding editor and lead writer of the WSJ’s China Real Time site. Prior to becoming a journalist, Sky worked in the China corporate law practice of Baker & McKenzie, and she has also taught journalism and media law at the University of Hong Kong. She speaks Mandarin and has accumulated more than a decade's experience living, studying and working in China.
China in 2 minutes a day
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