Coronavirus has lit the fuse on a time bomb in China’s economy: debt | South China Morning Post

Coronavirus has lit the fuse on a time bomb in China’s economy: debt | South China Morning Post: The coronavirus outbreak
has already taken a great toll on the Chinese economy, with all headline readings pointing towards a record slowdown in growth during the first two months of the year.
But there is an even greater danger for what was once the world’s fastest-growing major economy: that Covid-19 will become the catalyst that will bring its many long-simmering problems
to the boil. At the centre of these problems is a rising systemic risk in its banking and financial systems caused by a high level of debt accrued over the past decade.

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