Why Beijing Should Dump Its Debt
Jan 22, 2018
2 minutes
BY MICHAEL PETTIS
Illustrations by ADAM SIMPSON
China’s economy is in deep trouble. A decadelong overreliance on overinvestment in manufacturing capacity and infrastructure has generated crushing debt. Tremendously powerful vested interests in control of state-owned enterprises and provincial and municipal governments, meanwhile, are blocking the Beijing’s efforts to break up existing monopolies and stimulate growth.
Because it creates
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