There are many ways to measure China's growing economic dominance. S&P is demonstrating it with a look at the vast amounts of debt piling up at China's companies - a trend that implies greater risk for the global financial community.
The ratings agency notes that China, as of last year, already had more outstanding corporate debt than other country, with $14.2tn versus $13.1tn in the US.
By 2016, outstanding corporate debt in Asia-Pacific markets - led by China - is now projected to outpace the US and Europe, combined, S&P says.
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