Consensus Forming: China Heading Back Into Financial Crisis

China’s historic post-2009 debt binge flew largely under the radar – fooling most observers into thinking the global economy was recovering rather than just re-leveraging.
Now Beijing is back at it, borrowing over $1 trillion in this year’s first quarter, buying up commodities and creating the illusion of global growth. But this time the scam hasn’t gone unnoticed. Reporters, editors and money managers seem, at last, to be catching on. Some representative headlines:
George Soros warns of credit crisis in China
Chinese cities dive back into debt to fuel growth even as defaults rise
China debt climbs to US$25 trillion
China’s banks cut bad debt buffer as profits flatline

This post was published at DollarCollapse on APRIL 30, 2016.