As debts continue to mount ten years into the so-called recovery, the IMF has warned that these rapidly accumulating debts are a threat to the global economy. China, Japan, and the US are singled out as the most egregious debt accumulators. Double Down talks to Professor Steve Keen for his insights on the significance of these debts. Keen says that China's household debt accumulation is the fastest in history, surpassing even Japan's epic debt pile gathered at rapid speed back in the 80s. Will this household debt in China threaten a global financial crisis? Keen thinks not as China's government has a Belt and Road spending program rivaling in scale that of the New Deal. This may set in motion a Chinese century similar to that America enjoyed this past one. Tune into Double Down to hear more from Steve Keen.
We'd love to get your feedback at firstname.lastname@example.org