China Economy

A file picture of residential buildings under construction in Nanjing. Photo: Reuters

US ‘casting nervous eye at China’s phenomenal debt levels’

The United States is paying close attention to China’s fast rising level of debt, housing bubble and the build-up of risk in the financial system as any stumble by the world’s second largest economy would bring a chain reaction globally, according to Kathryn Dominguez, an economics professor at t