Government debt 50% of China's GDP: IMF (Obama-style Economy)

China Daily ^ | 05/30/2013 | Xinhua

[TexGrill]

BEIJING - An International Monetary Fund (IMF) chief said on Wednesday that Chinese government debt has risen to nearly 50 percent of the country's gross domestic product (GDP) but is still under control.

Speaking at a press briefing after the completion of an annual review of the Chinese economy by the organization, David Lipton, the IMF's first deputy managing director, said, "Reining in total social financing growth is a priority and will require further tightening of prudential oversight as well as, critically, improved investor accountability for their investment decisions."

The IMF concluded in its review that it is important to reduce the deficit in the medium term to ensure a robust and sustainable debt profile, while stressing that part of the fiscal deficit is financed through land sales, and augmented debt is still at a manageable level.

Xiang Huaicheng, China's former commerce minister, said in April that the country's general government debt exceeded 30 trillion yuan ($4.85 trillion), or 37.8 percent of GDP by the end of 2011, while it stood at about 40 percent of GDP in 2012.

[TexGrill]

That's the reported figures. The real debt numbers are most likely much higher.

[dila813]

but that is debt, not deficit, but as much cash that is flowing through china, they could be upside down in a jiffy

I don’t believe they account for debt the same way we do.

They have government companies/banks to call stuff investments.

Think China Mae.

[If You Want It Fixed - Fix It]

Thaaat’s right, keep s[pending, learn from America, we will help you bring yourselves down. We can’t seem to export anything but rot nowadays, but at least our enemies are buying too.