Most of China's debt is internal, mostly to state banks by other sections of government, which cancels out. They have lower debt than most nations when accounting for this. Michael Roberts mentions this key fact a lot because otherwise you end up like these YouTuber dipshits. They do have issues with personal debt since the rise of consumerism but that's basically every capitalist economy now.
Most of China's debt is internal, mostly to state banks by other sections of government, which cancels out. They have lower debt than most nations when accounting for this. Michael Roberts mentions this key fact a lot because otherwise you end up like these YouTuber dipshits. They do have issues with personal debt since the rise of consumerism but that's basically every capitalist economy now.
And personal debt is not something nations collapse under or go to war about.