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Clearing Triangular Debt Seen as Key to China's Recovery
Original: Clearing Triangular Debt Is Key to China's Recovery
Economists at Nomura argue that China's economic recovery hinges on resolving the country's 'triangular debt' problem, in which local governments, companies and financial institutions owe money to one another, leaving payments stalled across the system. The view is that breaking this chain of unpaid obligations would restore cash flow and confidence. It adds to ongoing debate over how Beijing should restructure local government debt to reignite growth.
Why now: Concerns over China's sluggish post-pandemic recovery and mounting local government debt are keeping the issue in focus.
Evidence
- Clearing Triangular Debt Is Key to China's Recovery · Nomura Connects
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