Bloomberg with a piece on China's "credit bubble that has ballooned to $28 trillion in an economy growing at its slowest pace in 25 years"
- China trying to keep the economy growing rapidly enough to repay past obligations
- While not resorting to a fresh pick-up in debt to fund more stimulus
It was China's reliance on credit-fueled growth in the wake of the 2008 global financial crisis that resulted in one of the biggest debt expansions in recent history, and today's hangover
"China is nowhere close to reining in its debt problems," said Charlene Chu, the former Fitch Ratings Ltd. analyst known for her warnings over China's debt risks and now a partner of Autonomous Research Asia Ltd. "It is one of the key factors weighing on GDP growth and one of the reasons why foreign investors are so concerned about China's trajectory."
If you've following the China story this isn't new news, and its probably not likely you even need a reminder.
In which case, just enjoy the music!
