China’s debt has grown to alarming levels, according to new data from the Bank for International Settlements that highlight a big potential risk to the global economy.
What the BIS terms the country’s “credit gap” is now three times higher than the typical danger level, the research shows.
The measure tracks the difference between corporate and household debt as a proportion of gross domestic product and the long-term trend, so highlighting any divergence between current and historical borrowing patterns — a possible indicator of unsustainable debt accumulation.
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