The Dig: Clash of Empires w/ Ho-fung Hung
Jacobin Radio
00:00
China's Response to the 2008 Global Financial Crisis
Between 2008 and late 2017, outstanding debt in China soared from 148% of GDP to over 250%. The surge of loans during the 2020-COVID-19 pandemic pushed the share to more than 330%. How does the repression of domestic wages and consumption drive or relate to this problem of overinvestment and redundant production capacity and infrastructure? And then how did that all accelerate after 2008?
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