China's Debt Acceleration Raises Concerns Amidst Economic Slowdown

Tuesday, 23 April 2024, 12:19

China's debt growth rate is outpacing the US, with projections indicating a potential $20 trillion national debt by 2030. Fitch Ratings has revised China's debt outlook, highlighting a significant rise in the debt-to-GDP ratio. Challenges persist in assessing China's economy accurately due to various factors such as floating exchange rates and differing debt measurement methodologies.
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China's Debt Acceleration Raises Concerns Amidst Economic Slowdown

China's Growing Debt Concerns

China's national debt is projected to skyrocket to $20 trillion by 2030 at the current borrowing pace.

Concerns Over Debt-to-GDP Ratio

Fitch Ratings forecasts a surge in China's debt-to-GDP ratio from 56.1% in 2023 to 61.3% in 2024.

US vs. China Debt Comparison

  • China: Debt set to double from $9.83 trillion in 2023 to $11.277 trillion in 2024.
  • US: Projected debt growth to $57 trillion by 2030, compared to China's potential $20 trillion figure.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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