Opinion: The dramatic expansion of China’s debt reflects history and needs to be corrected
"Over the past 12 months, China added more domestic credit than in 2009, when authorities engineered one of the greatest bouts of stimulus spending in history to rescue the economy as exports wilted during the global financial crisis," writes Andrew Browne. "The multiyear boom surpasses even America’s excesses in the run-up to that crisis, and the biggest question hanging over the economy is how it will end. Because end it must."
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Jan 20, 2017