Indebted Dragon

Indebted Dragon

Lynette H. Ong

Financing the Middle Kingdom's recent building boom has been expensive: Estimates put local government debt alone at between $800 billion and $2 trillion, or around 13 to 36 percent of GDP. If the real estate bubble pops, financial and social crises will follow. Readhttp://www.foreignaffairs.com/articles/138449/lynette-h-ong/indebted-dragon?cid=nlc-this_week_on_foreignaffairs_co-112912-indebted_dragon_4-112912