A man walks past a display of oversized banknotes outside a foreign exchange office in Hong Kong. Photo: EPA
China, Hong Kong and other debt-laden economies risk a major financial crisis
Erik Norland says the world should have learned about the risks of excessive debt, but just as the US and Europe spent time lecturing Japan while repeating the same mistakes themselves, a number of countries – including China – have now levered up dangerously
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China economy
A man walks past a display of oversized banknotes outside a foreign exchange office in Hong Kong. Photo: EPA