CHINA’s $9 Trillion Debt Disaster
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CHINA’s $9 Trillion Debt Disaster

Video Summary As of 2023, China’s local governments have accumulated a staggering $9 trillion debt, equivalent to more than half of the country’s GDP. This massive debt was built up over the past 30 years, primarily through local government financing vehicles (LGFVs), which were established in 1994 to empower local authorities to raise debt and […]