U.S. record 40 trillion-dollar debts fuel global financial risks - People's Daily Online

U.S. record 40 trillion-dollar debts fuel global financial risks - People's Daily Online

Source: People's Daily Online

DW NOTE

The People's Daily is lecturing on debt risk while China's official local government debt sits at ¥43 trillion — and that's before you count the shadow borrowing vehicles Beijing pretends don't exist. When the organ of the Chinese Communist Party warns about U.S. fiscal discipline, check what Zhongnanhai is hiding off-balance-sheet.

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