China's accumulated debts($18.4 trillion) touch 215% of GDP

[Truth Finder]

A man counts renminbi banknotes. (Photo/CNS)

China's total debt is 215% higher than the country's GDP, indicating that its economic development has relied heavily on capital from loans and that the total factor productivity has not improved, reports the Chinese-language Beijing News.

Li Yang, deputy head of the Chinese Academy of Social Sciences, said on Monday in Beijing that it was estimated that China's debt scale had touched 111.6 trillion yuan (US$18.4 trillion) last year, taking up 215% of the GDP that year.

The debt situation in the real estate market was particularly serious last year. Outstanding household loans were pegged at 16.1 trillion yuan (US$2.6 trillion) in 2012, accounting for 31% of the GDP. Of these, long-term consumption loans stood at 10.2 trillion yuan (US$1.7 trillion).

The amount of debt, including local lending, that the local governments had incurred at the end of 2012 was recorded at 27.7 trillion yuan (US$4.6 trillion), which accounted for 53% of the GDP, with a part of these loans being used to develop the housing market.

The high debt level had the potential to create a bubble in the sector, the paper said. Loans granted in the housing market had the characteristic of long durations, with household loans normally taking a decade to three decades to be paid off.

At present, residential housing, which is worth 100 trillion yuan (US$16.5 trillion), coupled with commercial buildings, worth 200 trillion yuan (US$33 trillion), makes up 385% of the GDP.

When the real estate bubble peaked in the United States in 2005, the value of the housing market in the country accounted for 172% of the GDP. As a result, the subprime mortgage crisis emerged in 2006 and broke out in 2007, which had resulted in a global financial crisis in 2008.

China should therefore learn a lesson from the US experience and treat it as a warning signal and remain cautious. Another risk is the debt accumulated by local government's lending platforms. The current debt of these platforms has led to unlimited GDP growth over the past decade. The money was used to build infrastructure and new cities or even ghost cities, the paper said, adding that Beijing needs to change the country's pattern of development and adjust its economic structure to achieve healthy and sustainable economic growth.

Accumulated debts pose risks to China's economy｜Markets｜Business｜WantChinaTimes.com

 

[Chinese-Dragon]

From a China-bashing blog, well done.

Here are the real numbers from the IMF:

List of countries by public debt - Wikipedia, the free encyclopedia

Debt as a percentage of GDP:

China: 31%

India: 70%



India has a worse debt-to-GDP ratio than Spain, and India isn't even a developed country yet.

 

[Srinivas]

From a China-bashing blog, well done.

Here are the real numbers from the IMF:

List of countries by public debt - Wikipedia, the free encyclopedia

Debt as a percentage of GDP:

China: 31%

India: 70%



India has a worse debt-to-GDP ratio than Spain, and India isn't even a developed country yet.

Don't worry the dept in India's case is decreasing while in China's case it is increasing .....

So in India's case we have (Debt/GDP ) = 67% approx

i.e Debt is = 67/100 * 1.8 Trillion = 1.206 Trillion.

So 1.2 Billion people have a debt of 1.206 Trillion.


In China's case

(Debt/GDP) = 21 % (approx)

Debt = (21/100) *8 Trillion
= 1.68 Trillion for 1.3 Billion people

You people have more debt on an average per head than Indians ......

Aaaaaaa nnnnnnnnn ddddddd Chinese stats are fake

 

[Truth Finder]

From a China-bashing blog, well done.

Here are the real numbers from the IMF:

List of countries by public debt - Wikipedia, the free encyclopedia

Debt as a percentage of GDP:

China: 31%

India: 70%



India has a worse debt-to-GDP ratio than Spain, and India isn't even a developed country yet.

Are you comparing accumulated with public debt? Do you know what is accumulated debt? It only creates bubble. Just look at 215% figure.

By the way, you are talking about that Indian debt which is either guaranteed by RBI or GoI. But, most of the accumulated debts are not guaranteed by Govts. This is what happens when growth with fake data is done from loans.

 

[Chinese-Dragon]

Don't worry the dept in India's case is decreasing while in China's case it is increasing .....

Yet India still has one of the highest debt-to-GDP ratios in the world, worse than Spain.

Did you know that India also has the highest fiscal deficit and trade deficit in the entire world?

No wonder India has more poor than Africa. More starvation and malnutrition too.

BBC News - 'More poor' in India than Africa

 

[Srinivas]

Yet India still has one of the highest debt-to-GDP ratios in the world, worse than Spain.

Did you know that India also has the highest fiscal deficit and trade deficit in the entire world?

No wonder India has more poor than Africa. More starvation and malnutrition too.

BBC News - 'More poor' in India than Africa

I have edited my post, go through it completely. Chinese have more debts than Indians ..... ,

India do not eat all thing that walk or fly so some issues with malnutrition, if Indian standards are kept as norm in China then .....Chinese are malnourishment statistics shoot up ....

 

[Chinese-Dragon]

I have edited my post, go through it completely. Chinese have more debts than Indians ..... ,

India do not eat all thing that walk or fly so some issues with malnutrition, if Indian standards are kept as norm in China then .....Chinese are malnourishment statistics shoot up ....

Absolutely wrong. According to the IMF, China's debt to GDP ratio is only 31%, while India's is around 70%.

Your blog doesn't mean anything, I'm talking about IMF data.

 

[Srinivas]

Absolutely wrong. According to the IMF, China's debt to GDP ratio is only 31%, while India's is around 70%.

Your blog doesn't mean anything, I'm talking about IMF data.

Dude !!!!

do you understand what I have wrote .....??

 

[Truth Finder]

Did you know that India also has the highest fiscal deficit and trade deficit in the entire world?

Lie.

1) FD=4.8% of GDP(2013-14)
2)CAD=1.2% OF GDP(Q2 OF FY13-14)
3) TRADE DEFICIT=$140 bn(this year) vs $192 bn(previous year)

No wonder India has more poor than Africa. More starvation and malnutrition too.

1) In China, 200 million ppl live on less than $1.25/day, 440 million less than$2/day, 700 million less than $3/day and over 1000 million less than $4/day.

91% Chinese live on less than the bottom of 9% US population's wealth.

2) Official poverty line in china is $0.24 per day.

 

[MohitV]

Lie.

1) FD=4.8% of GDP(2013-14)
2)CAD=1.2% OF GDP(Q2 OF FY13-14)
3) TRADE DEFICIT=$140 bn(this year) vs $192 bn(previous year)




1) In China, 200 million ppl live on less than $1.25/day, 440 million less than$2/day, 700 million less than $3/day and over 1000 million less than $4/day.

91% Chinese live on less than the bottom of 9% US population's wealth.

2) Official poverty line in china is $0.24 per day.

add this too


List of countries by Failed States Index - Wikipedia, the free encyclopedia

china ranks 66 in failed state index whereas we rank 79

 

[Truth Finder]

Absolutely wrong. According to the IMF, China's debt to GDP ratio is only 31%, while India's is around 70%.

Your blog doesn't mean anything, I'm talking about IMF data.

Why lie. Go and check internet. China's accumulated debt is more than 215% of GDP.

 

[walle990]

Lie.

1) FD=4.8% of GDP(2013-14)
2)CAD=1.2% OF GDP(Q2 OF FY13-14)
3) TRADE DEFICIT=$140 bn(this year) vs $192 bn(previous year)




1) In China, 200 million ppl live on less than $1.25/day, 440 million less than$2/day, 700 million less than $3/day and over 1000 million less than $4/day.

91% Chinese live on less than the bottom of 9% US population's wealth.

2) Official poverty line in china is $0.24 per day.

Pls enlighten us with the source of your claims? Indians can't quote one to save their lives, which is why they live in a self deluding bubble until they die pre-maturely from inhospitable 3rd world living conditions.

 

[Chinese-Dragon]

Why lie. Go and check internet. China's accumulated debt is more than 215% of GDP.

Typical Low IQ Indian.

Find me a proper source like an IMF listing:

Here is a list of countries by External debt:

List of countries by external debt - Wikipedia, the free encyclopedia

China: 8% of GDP

India: 20% of GDP.

Your source is some random blog, they haven't got the numbers so they invent the numbers. Same as India's GDP, it's a pure invention since India is actually having to cut their defence budget twice, which means they have less money year on year.

 

[Truth Finder]

add this too


List of countries by Failed States Index - Wikipedia, the free encyclopedia

china ranks 66 in failed state index whereas we rank 79

Add this too:
Chinese Province 'Busted' For Fake Data; Exaggerated 2013 Output By Over 150%

Still believe that China's PMI is above 50 and suggesting a global growth expansion? Still believe in Santa and the Tooth Fairy? Well, none other than China's own National Bureau of Statistics has been forced to admit that at least one of its major provinces has dramatically overstated industrial output. As Sina reports, according to a NBS report, the government in China's Yunnan province had coerced local companies to report inflated industrial output value, resulting in artificially high economic figures. With government leadership promotions driven by the performance of economic numbers in each province, it should hardly be surprising but the scale of the fraud is remarkable. In 2012, one county in Yunnan province reported CNY6.34 billion in output while audits showed only CNY 2.82 billion and in the first half of 2013, Yunnan published CNY 2.75 billion in output while audits showed a mere CNY1.06 billion! The province was also found to have faked investment data.

 

[walle990]

Why lie. Go and check internet. China's accumulated debt is more than 215% of GDP.

I found on the internet, India 2030 superpower video, it must be true. Mirite?