How China's Debt Crisis Became the Reason of its Economic Downfall | Vantage with Palki Sharma
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- Опубліковано 11 бер 2024
- How China's Debt Crisis Became the Reason of its Economic Downfall | Vantage with Palki Sharma
China's local governments owe a whopping $13 trillion in debt, according to a report released by Goldman Sachs. Officials from debt-ridden Chinese provinces Liaoning and Hebei were in Beijing last week for a crisis meeting. They spoke to bankers and discussed ways to restructure their debts. To contain the rising debt, China has advised its local governments to scale back on infrastructure projects. Palki Sharma tells you how this situation is impacting the Chinese economy.
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China | Debt Crisis | Economic Downfall | Goldman Sachs Report | Local Governments | Firstpost | World News | Vantage | Palki Sharma
#china #debtcrisis #economicdownfall #goldmansachs #report #localgovernment #firstpost #vantageonfirstpost #palkisharma #worldnews
Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
The show is anchored by Palki Sharma, Managing Editor, Firstpost.
By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories - making Vantage a destination for thought-provoking ideas.
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If you want something said, ask India
If you want something done, ask China
If you want something destroyed, ask America
China collapsed in the 20th year of dreaming from the West, especially from the US, the EU, and India.😂😂😂
Thats the reason they are bullying in West Philippine Sea because WPS is rich in minerals, rare earth elements, oil and gas...
Philippines is trying to be a slave state of US. Slaves don't own shit. So south China sea belongs to China.
And? Whatcha gonna doing about it? Maybe ask your president to return all the money stolen by his father?
@k.k.
File a case idiot if your argument has concrete basis than being a marites 😂
The real reason is that US forces Philippine to engage China in South China Sea, challenging the 9 dash lines claim by China. If you challenge, of course China will respond. And that response becomes part of the narrative that China is bullying its neighbors. But the reality is, if you don't provoke, China will leave you alone.
@@k.k.c8670china cant get taiwan either 😂
No more made in China😅
Yes, Made in Vietnam and Made in Mexico 😂 no India 😂
Endian bots jealous😂😂😂
@@iqbalbhq6884 not in makka madinaa also🤣🤣🤣
@@iqbalbhq6884yes we consume here, and shit in pak. 🎉
@@iqbalbhq6884 why your mf a$$ is burning?
Debt also includes their high speed rail projects
Many of which are losing money.
and state-owned enterprises and enterprises essentially owned by the state, such as some of the airlines...
Basically unsustainable growth. China grew by 9-10% gdp growth for past few decades. India by 7-8%, but India's growth was sustainable. Only reason why china is ahead cuz they got 10 year gead start and CAGR is higher when u are bigger
@@Dr.Kay_R
WRONG AGAIN.
China's economy is 4.5X that of india's, with GDP per capita for Chinese $13,160 vs $2,850 for indians.
The largest economy, the US, in 2023 grew by 3.1% vs China's 5.3%. So the US's growth also is "unsustainable" ???
You can't bad mouth a country into recession...
And China can try to usurp lands of other nations. The world can't even report the truth. Fair !
I know Palki will be happy secretly inside delivering this news 😊, mee too😉
Thanks
I believe it happens in every country's waste of money to develop things which are not needed
And it's not like China can just print the dollars like US does
Sure they can. Just watch.
They will print yuan
It doesn't matter, RMB can be used to buy oil, while rupees can only be used to wipe your ass
@@user-1rg9f2-g3l6d Why would China start printing US dollars? Are you on weed or something?
Debt to size of economy is in comfort zone. Hyped news
Vielen Dank für die indische Aufklärung.
If you can talk of China's debt, what of the United States'!!!?!
US controls the currency, as long as thats the norm it doesnt matter
34 trillion dollar
The thing is USA has printing press that runs the world. If Yuan can become like USD then China may get a get out of jail free card...but they are not getting there easily
World is using dollar so they can print more & more without worrying about inflation.
Yuan isn’t lucky like $
US has the largest gold reserve in the world. They have all the means to get out of that debt. For China, they don't have that luxury.
Unbiasedness is the most critical trait that Journo should follow. The comparison with U.S. or India per se would be more appropriate.
Don't expect objectivity from Indian media, esp firstpost.
@maggiechan33 what media companies are not biased?
@@aldrintoribio1637
In India, ALL the media is radically biased, not true for all countries.
More objective are:
UK - Channel 4
US - Democracy Now
HK/China - SCMP
Anti China propaganda machine 🥴
@@maggiechan33look at Ground news and see biases. Indian News media (including wion) mostly falls in neutral category
In 2009, one of my old colleagues showed slides of high rise hotels there being, in his words, EMPTY, for the purpose of their ego that business and tourism will flood in. Urbanization began way earlier but that gamble paid off for major cities only, while infrastructure in rural areas is still awaiting local residents to fill in.
Why not look at US, Japan and Singapore's debt. If China economy is so bad ,why so many American companies CEO went to China recently?
Official data from the Reserve Bank of India shows that household net financial savings fell to 5.1% of GDP in 2022-23, well below its long-run annual average of 7.0-7.5%. Indian households' net financial savings fell as much as four percentage points in the past two years as they ploughed it to build real assets such as homes and vehicles. This is exactly what happened to Greece prior to its devastating financial crisis of 2008
Don't compare with Greece. India is much faster growing economy so the % is misleading. 5.1% of GDP is still a very high number and is much better that 7.5% from say 2000.
Chinese bots crying 😂😂😂😂
Chinese bots are cry babies
India will be the super power. India can avoid the excess financialisation, excess debt and excess corruption that occurred in the USA and the PRC.
Lol, no.
Delusional 😂
😂 saar super poop 💩
🤣🤣🤣
Very very very very very ambitious!!!!! 👏👏👏
No downfall has occurred yet, their growth is just lower but they are still growing.
where did Palki's ruby push starter go?
Rising debt payments are eroding the purchasing power of Indian households as the country saw its national household savings rate plunge to its lowest in half a century, at a mere 5.1% as of Dec 2023, down from 7.3% last year. This could lead to severe repercussions for the Indian economy in which domestic consumption is the main driver.
Bloomberg,
12 Jan2024
18trn ? says who , there is a nexus between us and china to cook up gdp numbers neither the us has a gdp of 30trn dollar nor china has a gdp of 18trn dollar
@@humbleindian6303Chinese is 18 trillion usa 27 trillion what you talking about? But usa takes loans from China and tells others it debt trap !😂
If purchasing power is gone then how come there is a new car in almost every Indian household
@@Vivek-cp2qm what are you smoking I'm Indian you high or something 80 percentage of people don't have car it's a motorbike which are used!
Propaganda and nothing tell lies 🇮🇳....
That's unfortunate.
The problem is that every country is in debt and no one is taking any effort to reduce it. I predict that we may go through a Debt Depression to correct this.
It is the denomination of the debt that is important. Not the quantity.
this, if the local governments own debt in RMB, they can simply turn on the money printing machine.
@@Jd-tu6ozthat will impact their goal of replacing the dollar. So the can't do too much of printing.
@@s-qc9ns nah, everyone is doing it, only way to replace USD is by gold backed currency, no other way.
@@Jd-tu6oz
That will send inflation through the roof with everyone dumping all bonds in China.
Only US can do it because it has the world's reserve currency. No other country can.
China claims to have the most gold reserves. but how do you if that is true?
How shameless and unprofessional is the indian media???😂😂😂
India propaganda want to emulate Western propaganda but they are unsophiticated.
Burning???? 😂😂😂😂
@@storm_yu Nobody believes indian media....🤣😂🤣😂🤣
@@peterneil6859Then why are you weeping? Just move on.
It is a fact
Lovely conversation from Lagos Nigeria founder teacher startup ❤
While usa has 31 trilion 😂
34.5 Trillion
To whom ?
When was the last time you repaid your own debt to yourself??
US can print money 💰 as much as they can...the only worrisome is to those nations who have debt in US Dollars 🤣🙌
@@maheshkurana5809 printing money doesn't get rid of homeIesness. it only raise the cost of living for average u.s person even more
But US makes and has more money then China. Imagine this. You owe 10 dollars and have 15. Some other guy owes 1,000 dollars and he has 100,000. It's also a lot of foreign debt. Much of Americas debt is government bonds
MEXICO IS DOING WELL
Shahbaz Sharif may purchase Chinese property with support from IMF
As a proud Indian🇮🇳, I really love ♥ and have a lot of respect for the incredible work of your really interesting story on Gravitas *How British looted 45 trillion from India* which is as a masterpiece of the highest quality. Its content is truly inspiring and I thoroughly enjoy watching it. The dedication, talent and hard work poured into the video are greatly appreciated by many. The Indian Union Public Service Commission has also deliver a remarkable report titled संघ लोक सेवा आयोग *How Britishers killed 1.8 billion Indians. Chronology of British Raj's exploitative policies* | UPSC," is equally astounding. The Indian government consistently produce insightful and thought-provoking articles of the utmost caliber. I sincerely hope they continue to produce such captivating exceptional work. Can it even get better than that? They deserve an award for best report of the year. Thank you for telling the truth.
If India says that China is not doing well, I just can't imagine how horrific it must be in India.
This is like an F - grade student telling an A+ student he is not doing well.
- China is 60 times richer than India. (I know it's unfair that the British looted 45 trillion from India, but it is what it is).
- China's economy is 6 times larger than India's.
- China's yearly growth is 5 times greater than India's.
- China has better living conditions and healthcare; on average, they live a whole decade more than their Indian counterpart.
- China launches 20-50 times more rockets than India into space every year.
- China is a lot more intelligent, with an IQ of 104 compared to India's 76.
- China is more athletic and stronger than India, winning 38 times more gold medals than India in the world olympic games.
- China's reserves is 7 times larger than India's reserves.
- India is forced to use the Chinese currency when purchasing oil from Russia, Iran, or Venezuela. Due to weak & undesirable Indian Rupees.
- China has 21 times more companies in the Fortune 500 than India.
*Rovers on Mars* China: Yes India: No
*Brought back Lunar Samples* China: Yes India: No
*Humans in space* China: Yes India: No
*Space station orbiting above us right this moment* China: Yes India: No
*Indian News*
FirstPost: China overtakes US to become world's richest nation
Wion - At $514 trillion, China overtakes US in terms of amassing the biggest net worth
Indiatoday - China overtakes US as world’s richest nation
Tribuneindia - China overtakes US as world’s richest country
Businessinsider india - China overtakes US as the richest country in the world
Thequint - China Overtakes US as the World's Richest Nation
Hindustantimes - China overtakes US to grab top spot in list of richest countries
Indiatimes - Global wealth surges as China overtakes US to grab top spot
NDTV - China Is Now World's Richest Nation, Ahead Of US
NewsX - China Overtakes US As World's Richest Nation
India - China Becomes Richest Country In The World, Overtakes US To Grab The Top Spot
Timesofindia - Global wealth surges as China overtakes US to grab top spot
Newindianexpress - China overtakes US as richest country in the world
Oneindia - China overtakes US as the richest country in the world
News18 - चीन बना दुनिया का सबसे अमीर देश, अमेरिका को किया पीछे
Aajtak - छिन गया America से ताज, अब China दुनिया का सबसे अमीर देश!
Zeenews - Worlds Richest Country: America पीछे... China बना दुनिया का सबसे अमीर देश
TV9 Hindi - अमेरिका को पछाड़कर चीन बना दुनिया का सबसे अमीर देश, 20 साल में बनाई इतनी संपत्ति
Newsleadindia - चीन ने अमेरिका को पछाड़ा दुनिया का सबसे अमीर देश
List of countries by GDP (nominal)
Medal Tally | Tokyo Olympics 2021
List of countries by FOREX reserves
Fortune Global 500 2021 | Full list of ranking
Spaceflights in 2021
Average IQ by Country 2022
*USA News*
BIoomberg - Global Wealth Surges as China Overtakes US to Grab Top Spot
Yahoo Finance - Global wealth surges as China overtakes US to grab top spot
*Japanese News*
Nikkei - China overtakes U.S. in national net worth to grab top spot
*UK News*
Dailymail - Global wealth trebles in last 20 years as China overtakes US with the highest net worth - accounting for a third of world's growth
1990. The Economist. China's economy has come to a halt.
1996. The Economist. China's economy will face a hard landing.
1998. The Economist: China's economy entering a dangerous period of sluggish growth.
1999. Bank of Canada: Likelihood of a hard landing for the Chinese economy.
2000. Chicago Tribune: China currency move nails hard landing risk coffin.
2001. Wilbanks, Smith & Thomas: A hard landing in China.
2002. Westchester University: China Anxiously Seeks a Soft Economic Landing
2003. New York Times: Banking crisis imperils China
2004. The Economist: The great fall of China?
2005. Nouriel Roubini: The Risk of a Hard Landing in China
2006. International Economy: Can China Achieve a Soft Landing?
2007. TIME: Is China's Economy Overheating? Can China avoid a hard landing?
2008. Forbes: Hard Landing In China?
2009. Fortune: China's hard landing. China must find a way to recover.
2010: Nouriel Roubini: Hard landing coming in China.
2011: Business Insider: A Chinese Hard Landing May Be Closer Than You Think
2012: American Interest: Dismal Economic News from China: A Hard Landing
2013: Zero Hedge: A Hard Landing In China
2014. CNBC: A hard landing in China.
2015. Forbes: Congratulations, You Got Yourself A Chinese Hard Landing.
2016. The Economist: Hard landing looms for China
2017. National Interest: Is China's Economy Going To Crash?
2018. CNN: Forget the trade war, China's economy has other big problems
2020. Economics Explained: The Scary Solution to the Chinese Debt Crisis
2021. Global Economics: Has China's Downfall Started?
....
Yet it's already 2023 and China's economy is still going strong.
GOD WILL ALWAYS BLESS CHINA AND ALWAYS BE WITH CHINA...!!!
🙏🙏🙏🙏🙏
✝️🇨🇳GOD BLESS CHINA🇨🇳✝️
Covid liberation bot 🦠😷
@@nishantshrivastava9674 If you want to argue, do it smartly
🖕🖕🖕
We dont eat bat's ass🤣🤣🤣
13 billion dollars in debt to 1.5 million people (CHINA), 34 billion in debt to 400 million people (USA) YOU INDIANS ARE A BUNCH OF PEOPLE.
As of 2023, China owns approximately $816.3 billion in U.S. debt
they are selling it piece by piece. thats why the US economy is getting worse as well. japan and saudi arabia are doing the same. selling american bonds.
Hey $13 trillion is not too bad, the USA is $34 trillion in debt - we got them beat!
Apples and oranges
As an American 13 trillion debt is nothing! 😂
Feed your hungry, don't look at other people's yards before you clean your own.
Plz make a video on financial problems of local govts. in India. I would like to see that doc.
China : Breaking News " IAF Tejas was crash in Rajasthan when Modi watching military training 😜😋😁
So what Some time ago, an American fighter jet crashed in the South China Sea F-35 and the same fighter jet F-35 Left it on auto pilot and don't know were it crashed😂 in USA when it come to yr daddy USA your mouth shut bt when it come to india u bark 🐕
Wtf
Most advanced aircraft F35 missing 😂😂
@@Democracy_Supporter bt when it come to their daddy the USA their mouth shut🐶
@@Aron_justin
Correct.
Also pathetic palki ( always obsessed with China) is lying; Chinese debt is 9.65 trillion vs US debt of 34.5 trillion.
Maybe you should do a piece about the list of bankrupt councils in UK
It is reported one. Unreported it is expected to be 30 trillion.
debt isn't the problem. % of GDP, and growth rate make debt a problem. Thats why the Chinese -with their export dependent economy - are desperate to maintain access to western markets.
Lol... You Indians borrow a lot of money in foreign currencies to buy imports and fund foreign contractors for things like trains, infrastructure. Over 90% of China's government debts are in RMB Yuan.... BIG difference. China borrows from its own people. India borrows from foreigners
So wrong. China borrows 90% from its own citizens in RMB. India borrows a lot from foreigners in fx to pay for imports, infrastructure, trains, planes, machinery etc.
Learn between borrowing from foreigners in fx like India to pay for trains, planes, other infrastructure, machinery, electronics etc and China borrowing in RMB from its own citizens.
China can trade with Russia and the Global South.
Because they listened to the US, UK + German economies are failing, not China's.
NYT recent poll, 51% of Americans said the economy is poor.
The west cannot survive without Chinese factories.
China's exports saw an unexpected increase in the first two months of 2024, official figures showed on Thursday. The General Administration of Customs said exports rose by 7.1% In January and February combined, reaching a trade surplus of $125 billion (€114.7 billion).
Chinese figures 🤣🤣🤣
Sure, we believe numbers put out by CCP.😂
In dreams 😂😂😂😂
Are u exporting covid again🤣🤣🤣🤣
China 13 trillon in debt for economic activity amongst 1.4 billion vs 34 trillion amongst 340 million in USA.
Who’s looking to do business in yuan ?
Everyone@@Curtis69213
Where's Jim Rogers?
😅Despite similar population number at 1.4b, India only have 672m workforce vs 931m for China. 48% Indian worked to support the others 52% unproductive population vs 66% Chinese worked to support the others 34% unproductive population.
India:
Population 1.4b
Male 700m = 73% labor force participation rate
Female 700m = 23% labor force participation rate (On par with Somalia, Pakistan, Palestine)
Total workforce = 511+ 161 = 672m
Literacy Rate = 69%
Educated workforce = 463m
Grain production = 330 million tons
Grain Reserve = 700 million tons
Comparing India to China is akin to comparing Pakistan to Japan , Bangladesh/Nepal to South Korea , Sri Lanka to Taiwan . One group is influenced by Chinese civilization, the others group is influenced by Indian civilization. Two different class. One is Yellow the others is Brown/Dark. One uses chopsticks, the others uses bare hand. The most developed country in ASEAN is Singapore, a nation populated by predominantly Chinese an East Asian origin people.
One group collectively & consistently ranked within the world top 10-20 in IQ Test, PISA Score, University Rank, International Collegiate Programming Contest (ICPC) & Mathematical Olympiad standing shoulder to shoulder with western world ....while the others group collectively & consistently ranked somewhere in the middle out of 100+ participant nation standing shoulder to shoulder with some failed states & banana republic.
It's like comparing some Africans countries with Europe. No developed countries exist outside of Western & East Asian world.
trying to divert the topic but not in this today world
The Chinese's downfall is very exaggerated. The Chinese are positioning themselves. They didn't come this far to simply collapse. They are watching and observing the geopolitical stage to adjust their strategies.
@@omkarbhakare7496 poor indian
china has a huge problem brewing.. old age..one child policy catching up...huge youth unemployment..housing bubble
China hides the truth
They're not going to downfall at all. But they might have an economic slowdown similiar to 90's Japan
Former Chinese Premier Zhu Ronji said that over relying on the fixed asset investments(Infrastructure projects) are unsustainable. However PRC domestic consumption is not strong enough for stimulating GDP. He did not have a choice for stopping the expansion of the economy with very high level of debt.
Borrow and build, Build and Sell and Borrow and build cycles. Property prices are cooling down after the peak in PRC. Shining airport, tallest towers and high speed trains are looking good. However not all of them are profitable like Beijing to Shanghai HSR.
Investing without good returns like wasting time and money for showing off the modernization with national pride. Property prices are
cooling down after the peak. Shining airport and high speed trains are looking good. However not all of them are profitable like Beijing to Shanghai HSR.
The important lesson to internalize is if India can make peace and respect the Europeans/British, even becoming good friends with the British and European nations despite them causing great suffering to Indians for half a millennium. संघ लोक सेवा आयोग *How Britishers killed 1.8 billion Indians. Chronology of British Raj's exploitative policies* | UPSC,". Then I believe there is a future where China and India can also be good friends. I support this as a proud Indian
It's 2.30 am in the morning in india Chinese bot
If you are an Indian go take some rest.
Once a loyal dog always a loyal to its former master
@@gskylexkk7280 but bot or not, doesn't it seem right? I can never understand, why people of India, hate China so much. If the reason is the border war between china and India in 1969, India has more reasons to hate Europeans. I mean really, at the end of colonisation, leaving behind an Indian textile industry, once flourished, in total ruins, a population with a overall literacy rate of 3%, a famine that caused nearly a million people in Kolkata ( or may be more-check the figures), and many more crimes. And also, harming the indian soreign integrity by dividing the country and making new countries (Pak, and Ban). and many more like this. really, in the face of this, can you really carry a grudge over a nation that had a border war with you nearly 50 years ago, and ever since pretty much lived peacefully with India, barriong minor skirmishes. Please educate me.
@@Benzene-xw7oq He is from covid liberation Army 🦠😷
YOU R NOT AN INDIAN.
The net financial savings of households in India has fallen to a five-decade low of just 5.1% of the GDP in FY 2023. It was 11.2% in FY 2022. This is a worrying development, because a high savings rate has traditionally correlated with a healthy growth rate. In other words, IMF cautioned that India's GDP growth is solely based on debt and is highly unsustainable. Which could lead to a Greek-styled financial crisis
18trn ? says who , there is a nexus between us and china to cook up gdp numbers neither the us has a gdp of 30trn dollar nor china has a gdp of 18trn dollar
China could cover any debt by selling water use to India from Aksai Chin.
Then tell your master to do it...why is CCP dictator don't come to Akshai chin😅 what stop him to do anything there or what is ur master so afraid of😂
@@robinrahul3355China already build dams to divert water away. 😂
@@phillipchan6919 ohhh son, we r really scared...please stop🤣🤣 do u thing India don't have any counter-measure...your whole shipping lane pass from Malaca stait where India has build their base...try doing mischief in the north, India will strangled u in the Ocean🤣
@@phillipchan6919 got so scared that u deleted my comment. Typical chinese behaviour, just like Galwan, when get thrashed hard they back away😂
@@robinrahul3355 It is your freedom of speech democracy India news media that deletes your comment. We don’t have this function to change foreign media.
Good info
Wished I had money to buy real estate over there and they allowed foreign ownership. Can find some good deals for sure
Central government is not supporting local governments with new loan until emergency
India's legends: "Those who dig taps for everyone once falls in his own trap" is true. Proud to be an Indian 🇮🇳
POV: Karma never forgive anyone.
Hare Krishna🙏🙏
It is weird that a nation with $3 Trillion GDP is worrying the health of a nation with $17 Trillion GDP (and still growing at 5%). China is popping the house bubble so to divert the resources to EV cars, computer chips, large scale ship building, green energy and many other high-end manufacturing. It is equivalent of shedding fat for muscles.
And the Chinese trade with the world is growing, not declining. Its manufacturing capacities are getting stronger. In particular, the trade with US is maintained and growing through conduits like Vietnam and Mexico.
The only real concern is that given the prolonged trade war with US, and the likelihood of yet another Virus War with US, Chinese are less inclined to spend as much as before. But with the new stimulus packages to ensure a 5% growth rate in 2024, there might be some pick up on consumption.
Thanx for the info.
17 trillion of fake GDP.
These are CCP numbers.
Real economic size of China is 5 trillion and it is heavily leveraged with that leverage beginning to crumble.
AND there not going to pay it back , and never intended to ?
That's what happens when there is no respect for the free market principles, when supply-demand isn't allowed to recalibrate naturally.
Everyday i heard was how rich how powerful China is, not much bad news from China
Compared to most countries in the western countries as well as India, have debt equal to or higher than their gdp, so China’s economy is still way better that India and the US when you compare debt to GDP.
@@blackups__6554 lol India's debt to GDP ratio is less than China's
How news come from china because china is not a free economy 😂
@@Aron_justinEndia is a free etoiletmy.🤣🤣🤣
@@yestomor7673 your words is describing your country aur your mom and dad value 😄
Love the stance with which you speak about these people 😂❤❤
And add to that list of reasons
China ever
Lies Lies & Lies
Govt can print money ans settle the debt. But getting growth back on will be uphill task.
Print money results in bond holders dumping bonds causing interest rates to shoot up fast.
You're missing a point here. There are no private banks in China. All are state-owned financial institutions. The CCP could easily restructure debts owed by business enterprises and local governments. Chinese debt are mostly in Chinese currency, which makes it easier for the government to manage. How can Indians with a credit rating of BBB- comment on Chinese debt, with a credit rating of AA+
Congratulations to East Indians. They are now earning $200 per month.
Local government owns depts to Chinese Central Bank how's that a risk. Internal debts are easily resolve.
Who is the debt owed to?
According to the IMF report on the Indian economy as of Dec2023, India's public debt is mounting at an alarming rate and could breach the 100% to GDP ratio by 2025, from the present 86%, if no cuts to excessive spending by the central government continues at current rate. India is already spending a hefty 40% of its union budget, just to service its existing debt, the highest in the developing world. This could leave the Indian gov't very little room to invest on development projects, unless the cycle repeats itself, by resorting to more loans
Right ...
India's economy has 25 years of solid growth ahead of it.
Debt at this point means nothing.
It is one of the few large countries where financialization has not taken place.
Catch muizu for this debt😂😂
No matter how dept increase China is still Superpower 😎
Paper tiger 😂😂😂
@@storm_yu india Jealous 🤣🤣🤣
@@storm_yuPo0jeet jealous.😂
Does a football stadium need to borrow goals from people before the match starts?
Write US bonds to China.
India has no debt because almost everyone have no money. Only the rich have all the money. Hahahahahah
what good humor
P.j. of the year.
China has so much debt because the communist party is bankrupt
What a bunch of jokers
Cows on the streets are richer than Indians, at least they don’t need to beg🤣🤣🤣
Tata
The US has $35 Trillion debt
That's different because USA is debt and it can pay in dollars which gives US evil option just to print money and can pay them as debt that's worst than anything.
But china is 13 trillion dollars debt that too in dollars which China doesn't have control which makes them vulnerable to fall into viscous debt cycle to pay the debt can impact Chinese economy
US Prints Dollars
Umm, that's official debt! Unofficially, they have more than 150 trillion dollars
What happens if China doesn't pay its debt?
Then no one will give them more loan. As default show that the cannot return the money.
Nahh. 13T still far from 35T
So this news content video is summary of many financial articles...which an AI APP can provide... thought firstpost did proper fieldwork since broadcasting about a competitor...
Palki kept saying over and over..
China slows India grows
Q: Why is China's credit rating at A+ to India's BBB- ?
😂😂cina gives them money
How do you expect Indians to answer such a complicated question with their world renowned IQ level 😂😂😂😂
@@AbhishekSingh-zv2tn😂😂😂😂
How to milk a growing economy;
*Tactic 1*
She doesn’t like China she kept saying things about china I don’t watch this anymore
In 2022, India's national household savings rate stood at 22% of GDP. Last year, it went down drastically to 11%. Today, it's only 5.1%, the lowest level in 49 years (Chinese national household savings rate is at 47% FYI). So much so that IMF has warned India on several occasions, to no avail. Everyone knows India's economy relies heavily on consumption but at this rate, India might well be the next Greece in the making. BTW, Greeks were proud of their fastest growing economy in the EU prior to the Greek Financial Crisis of 2011
Madam... Lets wash "ours" before we try to wash "others". The debt of our state governments like Andhra Pradesh which is promising to give "Alcohol at a cheaper rate" just to win election is ALARMING! We should observe China and others closely because we may need to adopt similar strategies as we're surely going to face a similar situation.
Palki is sooo smart just like Gordon Chang 😂😂😂😂😂
Gordon Chang is more sophisticated in his propaganda. Palki is just yelling and shouting
Debt servicing (payments of interests on loans) only accounts for 7% of China's national budget whereas it's a staggering 39% of India's union budget. Worse, of India's $550 billion union budget for 2023/24, $245 billion (45%) is from borrowed money, against a revenue of $305 billion. Who's facing a debt crisis one may ask
Once a fool, always a fool...this is the product u get after educating from made in china university😂
India has its debt finance sorted out
That's China's national debt. The video is speaking of China's provincial debt. China's national debt, provincial debt, and state owned business debt is over 300+% to GDP.
Allow international media in china and see what happens 👍👍
@@tabernathy0428 what do u expect from chinese educated kid...
Anyone curious to know more on this can refer to think school channel "why is china falling?"
😮
As an indian i can this news is baised
As a Chinese I can say this news is TRUE. 😊
@@Traderking1990 indian bot 🤡
It's a bit exaggerated but the facts aren't exactly wrong
@@NirajKumar-wb5hg chinese bot. 🤡
@@NirajKumar-wb5hg chinese bot. 😋
US is more than 30 trillions dollars in debt. How about India?In 2021, the national debt of India amounted to around 2.36 trillion U.S. dollars. Projections show an upward trend, with a significant increase ...
Though, India is doing well in terms of its economy. India's Current GDP (As of Q3 FY24): $4.11 trillion · India's GDP Growth Rate (Q3 FY24): 8.4%.
The problem is us print dollar and china doesn't technically USA has glich that is big problem
It is funny when ppl dont know a country with debt is actually healthier than a country without debt. It is a sign of growth potential.
Ah the too big to ignore! Where have I heard that before? USA during the our home loan crisis.
How can that happen when China is giving huge loans to other countries,?
China can actually earn more from giving loans to other countries because the interest rate is higher than when giving loan to their local government units.
Giving loans that cause default
That is $1 trillion that is gone
It doesn't matter, RMB can be used to buy oil, while rupees can only be used to wipe your ass
Hundreds of poor nations are under Debt trap of red China
India is fortunate that we can ensure what mistakes should not make as like china
Our finance ministry is taking notes . . .
China debts are internal debts which they can manage themself.
Unlike India, China is a trade Positive country. They got enough foreign currencies to service their foreign debts.
@@wionporky9937India's Debt is also internal Debt That is Their Own Money that's Why Half Knowledge Is More Dangerous Than Having No Knowledge 😂
@@Ijustfindout
India is a trade deficit country! Where do they get the foreign exchange to pay for it?🤔 When the Indian rupees is not convertible.
India is better than the best 💪🏽
@@Ijustfindoutlil bro don't know Russia want Yuan payment for Oil and Gas 😂
It's EASY to raise your standard of Living . Just Borrow lots of money and enjoy it !! The problem comes when you have to pay it back . With Interest .
Karma of China
India 🇮🇳 is next manufacturing hub of the world...
Agree, the BS manufacturing hub of the world
First we should compete with Vietnam instead of china Vietnam is getting more companies than india who are shifting from china
India wants to be the new Factory of the world 😂😂😂
That's is a far dream
Yes, by talking
China has spent 1 trillion on its BRI, helping the Global South advance.
China is the leader of the Global South, India can never achieve this role.
Yesterday's report was billions. Today's report is 23 trillion. You got to get yourself together. You are hallucinating.
the province owned enterprises owe more $20 trillion
America has 34 trillions debt.
America has more wealth than China
To whom ?
When was the last time you repaid your own debt to yourself??
US can print money 💰 as much as they can...the only worrisome is to those nations who have debt in US Dollars 🤣🙌
Brother do you know about this term inflation. Even if it is us dollars. The value of dollar will fall if it is produced heavily @@maheshkurana5809
34.5T
The have dollar💰
Chinese bots activated in comments 😂😂
proud to be a bot.
lots of love from a bot.
😂😅❤🇮🇳
In response to Indian bots 😂😂😂😂
@@YangLeeZhao607 eat more bats
@@YangLeeZhao607 batanddog eaters🤣🤣🤣
Debt crisis? Here is the data for India.
Reuters
December 22, 2023
NEW DELHI, Dec 22 (Reuters) - The Indian government said on Friday a warning from the International Monetary Fund (IMF) that the country's debt to GDP ratio could hit 100% was a worst-case scenario, and not a "fait accompli".
The IMF, in a so-called article IV review, said India's general government debt, which includes federal and state government debt, could be 100% of GDP under adverse circumstances by fiscal 2028.
India's finance ministry said this was "a worst-case scenario and is not fait accompli".
India's debt to GDP ratio, which was 81% in 2022/23, may decline to below 70% in the same period under favourable circumstances, the IMF report also said, according to the ministry.
"Therefore, any interpretation that the report implies that General Government debt would exceed 100% of GDP in the medium term is misconstrued," the ministry added.
What about India dept issue.
Yes, India also has debt but not as much as America and China.
The imperative lesson to understand is that if India can make peace and respect the Europeans/British, even becoming good friends with the British and European nations despite them causing great suffering to Indians for half a millennium. संघ लोक सेवा आयोग *How Britishers killed 1.8 billion Indians. Chronology of British Raj's exploitative policies* | UPSC,". Then I believe there is a future where China and India can also be good friends. I support this as a proud Indian
Look at their border to see no prospect of good frienship between the two nations.
Except Russia,japan remaining country are not trustworthy.
Britain😂😂
USA is afraid that china will take his No.1 power position.
That is the reason they are acting as a friend to india .
If india reach 2 nd position.
They start destroy india economy also.
Russia and Japan is the only true friend of india.
But china is the only country that control Islam country.
1.8billion Wow 😂
A similar debt problem is soon cing to India. Case in point Kerala state. They live on borrowed money and borrowed time. What is common with China, Communism!
The world is becoming accustomed to the fact that Beijing may not be as open for business as it used to be...
The debt issue is not limited to China, it is everywhere. The only solution is to print more money to cover those debt and share the losses with all people except those who print US dollars.
Yes India has the strongest economy ten times China and China will be begging for India's help soon.
Both you shits are from the same country xyna, Lol. (But the fact is you couldn't understand your fellow chinese friend being sarcastic)
HAHAHAHAHAHAH nice joke