China's Debt_ China warned to rein in growing mountain of debt or risk triggering another global financial crisis

ABC NEWS

China warned to rein in growing mountain of debt or risk triggering another global financial crisis

PM

By David Taylor
Posted about 4 hours ago

There are renewed calls for China to rein in its extraordinary mountain of debt or risk what Australia has been worried about for years — a "hard landing" for China's economy.

Key Points:

* Economists warn the Chinese government to step in or risk causing another global debt crisis

* China's debt load is currently 250 per cent of its GDP and growing at 30 per cent per annum

* Australia is largely completely dependent on a healthy Chinese economy.
The Bank for International Settlements warns China's debt load is far too heavy and, worse still, it is growing at an eye-watering pace.

The National Australia Bank (NAB) is nervous about China's ballooning debt.

READ MORE: http://www.abc.net.au/news/2016-09-26/china-warned-to-rein-in-debt/7878426

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