China Tells

China is among the group of countries that have lower level of leverage and exposure in terms of its debt ratio. China’s total government, corporate and individual debt is about 105% of its GDP, which is similar to other BRIC countries, but way lower than that of advanced economy. To deal with the economic slowdown, most governments adopt the keynes approach to lead the country out of the recession by borrowing more and spending more. Such a strategy results in a highly leveraged level of debt to GDP for most Western economies.

中国的负债率在全球经济中处于比较低的水平。自从08年金融危机以来，全球主要经济体，特别是西方发达国家，都采取了凯恩斯主义来对付危机，其中一个直接后果就是大举借债花销刺激经济。如此策略导致西方大国的负债率直线上升，其中最高的英国和日本分别都超过了500%以上的负债率。与此相比中国的负债率还很低，运用刺激政策的后续空间还很大。