By AFP
China’s debt problems are likely to worsen as “recessionary and deflationary pressures pile up, (and) Chinese enterprises struggle to make profits,” warn analysts at SinoInsider, a US-based consultancy that focuses on the Chinese economy.
Any default by the Zhongzhi conglomerate risks exposing some of China’s “massive financial and debt ‘iceberg'”, said SinoInsider.
“More of the ‘iceberg’ is likely to be uncovered going forward.”
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