A bank employee counts 100-yuan notes at a bank in Shanghai. Photo: AFP A bank employee counts 100-yuan notes at a bank in Shanghai. Photo: AFP
A bank employee counts 100-yuan notes at a bank in Shanghai. Photo: AFP
Neil Newman
Opinion

Opinion

Abacus by Neil Newman

Why China, like Japan, needn’t worry about paying all that debt back

  • With China’s total debt hitting 317 per cent of GDP, it looks destined to join Japan, Greece and Italy on the OECD and IMF’s ‘wall of shame’
  • But why worry when Modern Monetary Theory suggests its debts may never need to be paid?

A bank employee counts 100-yuan notes at a bank in Shanghai. Photo: AFP A bank employee counts 100-yuan notes at a bank in Shanghai. Photo: AFP
A bank employee counts 100-yuan notes at a bank in Shanghai. Photo: AFP
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