China’s total debt was two times higher than the US national debt

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www.vsyako.netPhoto: Jason Lee / Reuters

An indicator of China’s total debt rose to 303 percent of the gross domestic product (GDP) amid increasing support of a slower economy, reports Reuters.

It is noted that the Chinese government sought to restrain corporate debt by limiting shadow banking. As a result, this contributed to the reduction of debt in non-financial sectors, but other sectors of borrowing skyrocketed.

So, the total debt of China exceeded 40 trillion, accounting for about 15 per cent of global debt. At the same time, rising debt levels around the world.

Earlier it was reported that the growth of China’s economy slowed to the lowest in 27 years. The main reason for the slowdown was a trade war between Washington and Beijing.

In February, the US national debt has reached a historic high in 22,012 trillion dollars. It is projected that by 2049 it will rise to 144 percent of GDP and will reach the highest level in the country’s history.

Video, photo All from Russia.

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