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Global Watchdog Warns About China Debt

China provides lip service about confronting its debt woes, but so far has made few meaningful steps in that direction. Global financial watchdog Bank of International Settlements (BIS) reported last weekend the gap between credit and gross domestic product (GDP), considered an early warning of financial overheating, hit 30.1 in the first quarter of this year. The second highest reading among countries assessed by BIS was Canada at 12.
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