China Government Advisor: Beijing Must Burst The Debt Bubble And Brace For A Deep And Painful Adjustment
JUL. 14, 2013
MNI’s David Wilder reports an economist and advisor to the Chinese government says the country’s economy is officially in a crisis as debt costs spiral upward.
This was spotted by Fabrizio Goria.
Xia Bin, of the State Council’s Development Research Center, also said authorities need to stop mincing words about the situation.