China’s Slow Recovery from Debt Hangover Begins

(Harvest) The clarion calls on the Middle Kingdom’s growth in total debt are well founded. China’s corporate debt pile has leveled off this year at more than 160% of GDP, up from less than 100% of GDP shortly before the Global Financial Crisis. But an interesting and important shift in the productivity of the debt appears to be taking place. The return on incremental assets has started to rise after six straight years of decline, according to research from AllianceBernstein.

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