China’s GDP growth could be half of reported number, says US economist at prominent Chinese university

//China’s GDP growth could be half of reported number, says US economist at prominent Chinese university

China’s GDP growth could be half of reported number, says US economist at prominent Chinese university

If China’s bad debts were written down, its economic growth rate would be half the recorded number, a US economist at a prominent Chinese university has warned.In a speech in Shanghai this week, Michael Pettis, professor of finance at Peking University, warned that China’s debt is closely linked to the government’s perceived overstatement of its gross domestic product (GDP).The government is accused of perpetuating the existence of “zombie companies”, by granting loss-making companies loans…

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By | 2019-03-09T20:00:56+00:00 March 9th, 2019|Headlines|Comments Off on China’s GDP growth could be half of reported number, says US economist at prominent Chinese university