NEWS

The Road to Ruin?


China’s economy is reliant

on too much debt, the International Monetary Fund (IMF) has warned. Growth in China has been propped up by rapid increases in debt in recent years.

Stronger global growth has given China a lift, as has extra government spending.But in the years ahead, risks will grow as China’s extraordinary debt bubble keeps on building.

“If they have a slowdown a lot of things will implode on each other, ­despite the fact that they have managed the economy just brilliantly. At some point the odds will turn against them.”