On Mon, Aug 19, 2013 at 4:12 PM, Marv Gandall <[email protected]> wrote:
> Most debt in China is held by the central and local governments and > state-owned companies, and the central bank and > This is a completely new argument, one that has nothing to do with the Economist article that started this thread. This is really a two-part argument: (a) a lot of Chinese debt is just obligations of one government entity to another, and (b) therefore high levels of debt is not really a problem. I don't see why (b) follows from (a). -raghu.
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