Why China, like Japan, needn’t worry about paying all that debt back

Major economies around the world are seeing their debt surge. For many years, Japan, Greece and Italy have topped the OECD and IMF’s “wall of shame”, and it appears they will soon be joined by China as the Institute of International Finance recently estimated China’s total debt hit 317 per cent of gross domestic product (GDP) in the first quarter of this year.GREECE IS THE WAY WE ARE FEELINGNo one likes the thought of being in debt. After all, it must be paid back. And seeing one’s national…

Read the original article at South China Morning Post