摘要
INACCURATE articles sometimes appear in the Western media claiming China faces a"severe debt crisis."Factually these are easily refuted.Changyong Rhee,the IMF’s Asia and Pacific Department director,recently pointed out that China’s national and local government debt is only 53 percent of GDP,while the U.S.government’s debt is
INACCURATE articles sometimes appear in the Western media claiming China faces a ＂severe debt crisis.＂ Factually these are easily refuted. Changyong Rhee, the IMF＇s Asia and Pacific Department director, recently pointed out that China＇s national and local government debt is only 53 percent of GDP, while the U.S. government＇s debt is roughly equivalent to GDP, and Japan＇s government debt is 240 percent of GDP. Foreign debt is nine percent of China＇s GDP - insignificant bearing in mind that it owns the world＇s largest foreign exchange reserves.
