#China #SubPrime #Debt #Crisis

Fascinating article in #SouthChinaPost about the risk of economic disaster in China. Millions of households are in massive debt - middle class have unaffordable mortgages on #BTL investments, poor need to borrow credit to meet living costs. Sound familiar?

#Corvid lockdown is bringing people to point of no return. Risk of huge default on debt. #Xi must know this but is unable to get out of death spiral by reversing policy as it makes him look weak.

Worrying!