When one adds the growth of the 'shadow banking' sector, mostly missing from standard debt calculations, a truly scary picture emerges.
(Please note that the PBoC has not offered estimates for shadow banking assets for 2018).
China's economy is swimming in debt. 4/ pic.twitter.com/CjDKjYuHHs
— Tuomas Malinen (@mtmalinen) February 12, 2020
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