The Bank for International Settlements has become the latest global institution to warn that China’s rapidly expanding debt burden is setting the stage for a financial crisis. The total size of the country’s debt pile is not extraordinary in itself — the BIS estimates it is still smaller as a percentage of gross domestic product than in places such as the UK, Japan and the euro area. But the speed with which China has accumulated this debt is a serious worry, not just for Beijing but for the entire world, given China’s role in recent years as a driver of global economic growth.
已有多家全球組織警告稱，中國迅速擴大的債務負擔正在埋下金融危機的禍根，而國際結算銀行(IBS)成爲其中最新的一家。中國的總體債務規模本身並非高得不同尋常。該行估計，中國債務與國內生產毛額(GDP)之比仍低於英國、日本和歐元區等地區。但中國累積債務的速度嚴重令人擔憂——不僅對中國政府來說是如此，對整個世界來說也是如此，因爲近年來中國一直是推動全球經濟成長的引擎。