👉China faces its Biggest Economic Shock since the 2008 Crisis !
Channel: Vigo
Date: 2020-03-22

China’s economy was already imploding before this pandemic. China’s debt is 400% of GDP, debt-fueled infrastructure and the real estate bubble has ground things to a halt; overcapacity is contributing to job losses even in coastal cities, Forex reserves are all but depleted and direct foreign investment has been jumping ship for cheaper labor sources like Vietnam. This is already beginning to forestall many small business loans and will knock on to the mortgage sector and consumer economy in due time.

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