Phil Lowe Governer of RBA has explained the debt risks faced by China, denouncing the fast piled up debt since 2009 and its opaque financial system.
During a conference about the breadth and depth of the Chinese-Australian relationship, Lowe also highlighted that a stable China is very imortant to Australia’s future prosperity.
Lowe said that in its attempts to expand domestic demand following the global financial crisis, China’s total non-financial sector debt has significantly rosed since 2009...
Source: businessinsider.com