China’s US dollar cross-border claims have risen faster than any other economy’s despite its partially closed capital account. Photo: Shutterstock

China is underestimating its US$3 trillion dollar debt and this could trigger a financial crisis, says economist

  • Property developers and other mainland companies and investors that have borrowed dollar-denominated debt at low US interest rates are now facing repayment problems due to Federal Reserve rate increases and stronger greenback
Topic |   China economy

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China’s US dollar cross-border claims have risen faster than any other economy’s despite its partially closed capital account. Photo: Shutterstock
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