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The nation has now reached a 10-year high in delinquent corporate loans.
Of course, supporting the rotating carousel of real estate, commodity, and stock bubbles, while also trying to stem bond defaults, comes at a cost.
China’s corporate debt levels are now over 150% of its GDP, and estimates of total debt are as high as 280% of GDP.
Consumer credit has grown by over 300% in just the past six years.
A real estate bubble of this magnitude would bring most economies to the brink of destruction.
But fear not; the megalomaniacs in Beijing had a solution: in 2015 they created a new bubble in the stock market to offset the fragile real estate bubble.
Pushing even further down on the yuan are the threatened three Fed rate hikes scheduled for 2017.