Скачать или смотреть 460,000 companies close down, 800 million people in debt, China's 2023 economic has no way out

Are we on the brink of a global economic crisis? The tensions between China and the rest of the globe over global debt are at an all-time high. As more countries fail on their debts, China's refusal to erase its loans raises tensions with the United States and its allies. Chinese cities are failing to pay their bills because hidden debts are getting bigger and bigger. The stakes are high, and the outcome is uncertain. So, what's next? Watch out to find out.

When world leaders debated whether to write off poor countries' debts more than two decades ago, Bono was the central character.

This time, it's Beijing.
Three years of tight economic controls in China, combined with a real estate slump, have depleted local government revenues, leaving authorities across the country saddled with mounds of debt. The situation has declined to the point where some cities are unable to provide basic services, and the prospect of default is increasing.

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