China’s 2020 Crisis: $283 Billion of Maturing Local Debt

China’s 2020 Crisis: $283 Billion of Maturing Local Debt
The headquarters of the People’s Bank of China, the Chinese central bank, in Beijing, on Aug. 7, 2011. Mark RalstonAFP/Getty Images
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News Analysis

China will face another potential financial crisis in 2020 when local governments must pay-off over $283 billion in maturing municipal debt.