China is not different than most other countries in the world.
After an extended period of runaway debt, the country tried to reign it in. This idea was given up on and not the debt truck is being backed up.
Many applaud the growth rate of the country that now sports the second largest economy. The challenge is that it was mostly done via debt. Even compared to the United States, the debt load of China looks outrageous.
This is going to come back and haunt the global economy. It became accustomed to China providing a large portion of the growth. Due to the slowdown the last couple years, the debt spigot is turned on.
We know how this is going to end.
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