Hong Kong
Opinion

For China, Default Is the Only Way Out

For China, Default Is the Only Way Out
There are more than 130 problematic buildings in Zhengzhou, China, which become the serious area of unfinished buildings across the country. The picture shows the largest unfinished building in Zhengzhou. Video screenshot
Law Ka-chung
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Commentary

The China debt crisis led by the real estate bubble burst will be unprecedented. Even a single major developer could have a trillion yuan (US$145 billion) debt; the overall total will be a mystery. Yet, we can still have a very vague idea about how significant the debt is by doing some basic arithmetic.

Law Ka-chung
Law Ka-chung
Author
Law Ka-chung is a commentator on global macroeconomics and markets. He has been writing numerous newspaper and magazine columns and talking about markets on various TV, radio, and online channels in Hong Kong since 2005. He covers all types of economics and finance topics in the United States, Europe, and Asia, ranging from macroeconomic theories to market outlook for equities, currencies, rates, yields, and commodities. He has been the chief economist and strategist at a Hong Kong branch of the fifth-largest Chinese bank for more than 12 years. He has a Ph.D. in Economics, MSc in Mathematics, and MSc in Astrophysics.
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