REUTERS/Stringer China, already heavily indebted, continues to accumulate debt at a rapid rate. In March alone, total social financing — the broadest measure of credit growth that captures new lending from both traditional and non-traditional sources – rose to 2.34 trillion yuan, the second highest monthly increase on record, behind the enormous 3.425 trillion figure recorded in January this year. To George Soros, the famed fund manager who rose to prominence by “breaking the Bank of Engla...
George Soros: China's debt binge resembles that in the US before the recession
Business Insider - 21 Apr 2016 05:37
REUTERS/Stringer China, already heavily indebted, continues to accumulate debt at a rapid rate. In March alone, total social financing — the broadest measure of credit growth that captures new lending from both traditional and non-traditional sources – rose to 2.34 trillion yuan, the second highest monthly increase on record, behind the enormous 3.425 trillion figure recorded in January this year. To George Soros, the famed fund manager who rose to prominence by “breaking the Bank of Engla...
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