Jan 04, 2018 21:53 (IST)
Of debt and world economy
China's debt is 216%, highest for any developing nation in history, says Ruchir Sharma. Any other country that would incur debt would have expected to blow up, but China's growth is still increasing, which is very unusual for a country this size, he says.
"There is new China, with tech innovations and no debt, and there's old China where record levels of debt are controlled by the government. This is the dichotomy of China as old china is dragging down the new China," he says.
China's debt is 216%, highest for any developing nation in history, says Ruchir Sharma. Any other country that would incur debt would have expected to blow up, but China's growth is still increasing, which is very unusual for a country this size, he says.
"There is new China, with tech innovations and no debt, and there's old China where record levels of debt are controlled by the government. This is the dichotomy of China as old china is dragging down the new China," he says.