October 17, 2018
THE TOOTHLESS DRAGON:
China May Have $5.8 Trillion in Hidden Debt With 'Titanic' Risks (Eric Lam, October 16, 2018, Bloomberg)
China's local governments may have accumulated 40 trillion yuan ($5.8 trillion) of off-balance sheet debt, or even more, suggesting further defaults are in store, according to S&P Global Ratings."The potential amount of debt is an iceberg with titanic credit risks," S&P credit analysts led by Gloria Lu wrote in a report Tuesday.
Posted by Orrin Judd at October 17, 2018 4:15 AM