China's Real Estate Crisis Is Heading Our Way

China's Real Estate Crisis Is Heading Our Way!

China’s domestic debt has been growing at an average annual rate of around 20 per cent since 2008, far faster than its gross domestic product, a recipe for serious trouble. Official data showed that outstanding household debt, including mostly real estate debt, at the end of 2020 stood at 63.19 trillion yuan (US$9.7 trillion). That’s equivalent of 62 per cent of Chinese gross domestic product. #china #evergrange #realestatecrisis #debtcrisis #debtcrisis