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When talking about national debt we include both private and public debt. By this measure China's debt stands at around $45 trillion while the US' stands at aro
by culi 2y ago
When talking about national debt we include both private and public debt. By this measure China's debt stands at around $45 trillion while the US' stands at around $70 trillion. China also has a larger GDP (PPP) and 4.25x the population. However you spin it, you'd be hard pressed to defend the claim that China is facing a worse debt crisis than the US is
- seanmcdirmid 2y agoChina has a smaller GDP, if you want to talk about PPP yuan then you need to talk about PPP debt, otherwise it isn't meaningful. As for your wonky definition of national debt: https://en.wikipedia.org/wiki/National_debt_of_the_United_States https://en.wikipedia.org/wiki/National_debt_of_the_United_St... Maybe you are using a different chinese definition? If so, we are comparing apples and oranges. By the English definition of national debt, China should be pretty good since most debt in China is offloaded to localities or SOEs, or are hidden off books in some weird local lending scheme far away from Beijing.
- m101 2y agoA debt crisis will be triggered by lack of confidence, and in that regard China's debt crisis is far worse than that of the US.
- PixyMisa 2y agoYou can't pay your debt with PPP, though. You have to pay it with real money.