How China's Debt Crisis Became the Reason of its Economic Downfall | Vantage with Palki Sharma
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- Опубликовано: 7 сен 2024
- How China's Debt Crisis Became the Reason of its Economic Downfall | Vantage with Palki Sharma
China's local governments owe a whopping $13 trillion in debt, according to a report released by Goldman Sachs. Officials from debt-ridden Chinese provinces Liaoning and Hebei were in Beijing last week for a crisis meeting. They spoke to bankers and discussed ways to restructure their debts. To contain the rising debt, China has advised its local governments to scale back on infrastructure projects. Palki Sharma tells you how this situation is impacting the Chinese economy.
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China | Debt Crisis | Economic Downfall | Goldman Sachs Report | Local Governments | Firstpost | World News | Vantage | Palki Sharma
#china #debtcrisis #economicdownfall #goldmansachs #report #localgovernment #firstpost #vantageonfirstpost #palkisharma #worldnews
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