Many households that were once the envy of China’s middle class are struggling with debt. Illustration: Perry Tse
Many households that were once the envy of China’s middle class are struggling with debt. Illustration: Perry Tse

China’s rising household debt is shattering dreams of financial freedom, and ‘fears are spreading’

  • Salary reductions, lay-offs, lockdowns and regulatory crackdowns are upending the lives of those who were once the envy of China’s middle class
  • If coronavirus-induced lockdowns and restrictions drag out for more than two months, some warn that the impact could be ‘unimaginable’

Many households that were once the envy of China’s middle class are struggling with debt. Illustration: Perry Tse
Many households that were once the envy of China’s middle class are struggling with debt. Illustration: Perry Tse
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