China’s economy just doesn’t seem to stop growing. According to the most recent figures, China’s GDP grew by 11.9% in the first quarter of this year. That’s the kind of growth that actually worries economists because it raises stability concerns. How do you manage such explosive growth over a period of, say, a decade?
A lot of the state spending came in the form of bank lending. That’s where China and its banks will have to be careful. Plenty of Americans are shackled with debt they can’t repay, and they’ll be paying interest for years and years to come. Luckily, credit counseling services have popped up that can help, but it would probably have been better if we had never gotten into this mess in the first place.
