Posted inBeijingChinaMiddle East

All new roads in China lead to a mountain range of debt

Imagine a plague of locusts stripping a ripe cornfield. Now, envisage debt ravishing an economy, leaving behind an empty, soulless husk. In China, President Xi Jinping’s economic team is well aware of the metaphor. Already a spot of financial ‘crop spraying’ has been ordered. Indeed, grappling with debt and corporate corruption will be the over-riding […]