Mish's Global Economic Trend Analysis: Bernanke: Don't Worry, China's $28 Trillion Debt is an "Internal Problem" MISH'S
Bernanke: Don't Worry, China's $28 Trillion Debt is an "Internal Problem" Mish Moved to MishTalk.Com Click to Visit.
The blue ribbon award for ridiculous comment of the day goes to Ben Bernanke who dismissed China's $28 trillion debt pile as an "internal problem" only. This revelation came from the Asian Financial Forum held in Hong Kong where Bernanke Downplayed China Impact on World Economy.
Bernanke argued that the global economy was more troubled by a global savings glut, which had long been a drag on investments. Bernanke also said the $28 trillion debt pile facing China was an "internal" problem, given the majority of the borrowings was issued in local currency. According to consultancy McKinsey & Co., government, corporate, and household debt in China had already hit 282% of the country's gross domestic product as of mid-2014.
Bernanke: Don't Worry, China's $28 Trillion Debt is an "Internal Problem" Posted by Michael Shedlock at 12:32 AM
Mish's Global Economic Trend Analysis: Bernanke: Don't Worry, China's $28 Trillion Debt is an "Internal Problem" MISH'S
Bernanke: Don't Worry, China's $28 Trillion Debt is an "Internal Problem" Mish Moved to MishTalk.Com Click to Visit.
The blue ribbon award for ridiculous comment of the day goes to Ben Bernanke who dismissed China's $28 trillion debt pile as an "internal problem" only. This revelation came from the Asian Financial Forum held in Hong Kong where Bernanke Downplayed China Impact on World Economy.
Bernanke argued that t
he global economy was more troubled by a global savings glut, which had long been a drag on investments. Bernanke also said the $28 trillion debt pile facing China was an "internal" problem, given the majority of the borrowings was issued in local currency. According to consultancy McKinsey & Co., government, corporate, and household debt in China had already hit 282% of the country's gross domestic product as of mid-2014.
Bernanke: Don't Worry, China's $28 Trillion Debt is an "Internal Problem" Posted by Michael Shedlock at 12:32 AM