This Could Be A Problem: China's Debt-To-GDP Rises To A Gargantuan 346%
Tyler Durden
Submitted by Tyler Durden on 01/28/2016 13:30 -0500
In early 2015, after years of China's massive debt pile being roundly ignored by most so-called experts (despite being profiled here many years prior), McKinsey released a report showing that not only has the world not delevered since the financial crisis, adding well over $60 trillion in debt (through 2016), but also revealing in a format so simple even an economist could grasp it, just how massive China's all-in leverage has become.
Many were shocked when they read that China's total debt/GDP had risen by 125% in under 7 years, hitting 282% as of Q2 2014.
Those same people may be just as shocked to learn that according to the head of financial markets research Asia Pacific at Rabobank, Michael Every, not only has China not begun to delever at all, but since McKinsey's update, its debt has risen by another 70% of GDP!
According to Every, China's 2015 debt-to-GDP might be as high as 346%, and while that is in line with wealthier developed economies but is “vastly higher” than any EM peer.
READ MORE: http://www.zerohedge.com/news/2016-01-28/could-be-problem-chinas-debt-gdp-rises-gargantuan-346
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