{"id":270,"date":"2011-08-15T23:49:49","date_gmt":"2011-08-16T03:49:49","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=270"},"modified":"2011-08-15T23:49:49","modified_gmt":"2011-08-16T03:49:49","slug":"behind-its-lectures-china-is-a-sinner-too-ft-com","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/15\/behind-its-lectures-china-is-a-sinner-too-ft-com\/","title":{"rendered":"Behind its lectures, China is a sinner, too – FT.com"},"content":{"rendered":"

The main point is that China\u2019s debt burden is far higher than it likes to admit, and much of that debt has piled up in the past few years, as a result of Beijing\u2019s response to the global financial crisis.<\/span><\/p>\n

\u201cEven though headline sovereign debt levels are low in China, so much quasi-sovereign activity happens through the banking system that if you include some of those contingent liabilities, the number can get very big,\u201d says Charlene Chu, head of Fitch\u2019s China Bank Ratings.<\/span><\/p>\n

\u201cPeople forget that China undertook its fiscal stimulus package through the banking system rather than by issuing public debt in the way that other countries did.\u201d<\/span><\/p><\/blockquote>\n

via Behind its lectures, China is a sinner, too – FT.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The main point is that China\u2019s debt burden is far higher than it likes to admit, and much of that debt has piled up in the past few years, as a result of Beijing\u2019s response to the global financial crisis. \u201cEven though headline sovereign debt levels are low in China, so much quasi-sovereign activity happens … <\/p>\n

Continue reading “Behind its lectures, China is a sinner, too – FT.com”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[41],"tags":[],"class_list":["post-270","post","type-post","status-publish","format-standard","hentry","category-china-hk"],"yoast_head":"\nBehind its lectures, China is a sinner, too - FT.com - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Behind its lectures, China is a sinner, too - FT.com - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The main point is that China\u2019s debt burden is far higher than it likes to admit, and much of that debt has piled up in the past few years, as a result of Beijing\u2019s response to the global financial crisis. \u201cEven though headline sovereign debt levels are low in China, so much quasi-sovereign activity happens … Continue reading "Behind its lectures, China is a sinner, too – FT.com"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/15\/behind-its-lectures-china-is-a-sinner-too-ft-com\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2011-08-16T03:49:49+00:00\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/08\\\/15\\\/behind-its-lectures-china-is-a-sinner-too-ft-com\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/08\\\/15\\\/behind-its-lectures-china-is-a-sinner-too-ft-com\\\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"Behind its lectures, China is a sinner, too – FT.com\",\"datePublished\":\"2011-08-16T03:49:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/08\\\/15\\\/behind-its-lectures-china-is-a-sinner-too-ft-com\\\/\"},\"wordCount\":135,\"commentCount\":4,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"articleSection\":[\"China & HK\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/08\\\/15\\\/behind-its-lectures-china-is-a-sinner-too-ft-com\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/08\\\/15\\\/behind-its-lectures-china-is-a-sinner-too-ft-com\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/08\\\/15\\\/behind-its-lectures-china-is-a-sinner-too-ft-com\\\/\",\"name\":\"Behind its lectures, China is a sinner, too - FT.com - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"datePublished\":\"2011-08-16T03:49:49+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/08\\\/15\\\/behind-its-lectures-china-is-a-sinner-too-ft-com\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/08\\\/15\\\/behind-its-lectures-china-is-a-sinner-too-ft-com\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2011\\\/08\\\/15\\\/behind-its-lectures-china-is-a-sinner-too-ft-com\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Behind its lectures, China is a sinner, too – FT.com\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. Strategic. Unfiltered. \",\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/thepatientinvestor.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\",\"name\":\"The Patient Investor Pty Ltd\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"width\":250,\"height\":250,\"caption\":\"The Patient Investor Pty Ltd\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/profile.php?id=61572934660810\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/cb072791ac83e8bae585007c133d54a5\",\"name\":\"ColinTwiggs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"caption\":\"ColinTwiggs\"},\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/author\\\/colin58s\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Behind its lectures, China is a sinner, too - FT.com - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Behind its lectures, China is a sinner, too - FT.com - the patient investor","og_description":"The main point is that China\u2019s debt burden is far higher than it likes to admit, and much of that debt has piled up in the past few years, as a result of Beijing\u2019s response to the global financial crisis. \u201cEven though headline sovereign debt levels are low in China, so much quasi-sovereign activity happens … Continue reading \"Behind its lectures, China is a sinner, too – FT.com\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/15\/behind-its-lectures-china-is-a-sinner-too-ft-com\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_published_time":"2011-08-16T03:49:49+00:00","author":"ColinTwiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"ColinTwiggs","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/15\/behind-its-lectures-china-is-a-sinner-too-ft-com\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/15\/behind-its-lectures-china-is-a-sinner-too-ft-com\/"},"author":{"name":"ColinTwiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5"},"headline":"Behind its lectures, China is a sinner, too – FT.com","datePublished":"2011-08-16T03:49:49+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/15\/behind-its-lectures-china-is-a-sinner-too-ft-com\/"},"wordCount":135,"commentCount":4,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"articleSection":["China & HK"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/15\/behind-its-lectures-china-is-a-sinner-too-ft-com\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/15\/behind-its-lectures-china-is-a-sinner-too-ft-com\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/15\/behind-its-lectures-china-is-a-sinner-too-ft-com\/","name":"Behind its lectures, China is a sinner, too - FT.com - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"datePublished":"2011-08-16T03:49:49+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/15\/behind-its-lectures-china-is-a-sinner-too-ft-com\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/15\/behind-its-lectures-china-is-a-sinner-too-ft-com\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/15\/behind-its-lectures-china-is-a-sinner-too-ft-com\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"Behind its lectures, China is a sinner, too – FT.com"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. Strategic. Unfiltered. ","publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thepatientinvestor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/thepatientinvestor.com\/#organization","name":"The Patient Investor Pty Ltd","url":"https:\/\/thepatientinvestor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","contentUrl":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","width":250,"height":250,"caption":"The Patient Investor Pty Ltd"},"image":{"@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61572934660810","https:\/\/www.instagram.com\/colin_thepatientinvestor"]},{"@type":"Person","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5","name":"ColinTwiggs","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","caption":"ColinTwiggs"},"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/colin58s\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-4m","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":27766,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/09\/08\/evergrande-jitters\/","url_meta":{"origin":270,"position":0},"title":"Evergrande jitters","author":"Colin Twiggs","date":"September 8, 2021","format":false,"excerpt":"For years, China turned a blind eye to property sector excesses because it was one of the main contributors to economic growth. Now a belated crackdown on excessive borrowing, setting \u201cthree red lines\u201d in August 2020, threatens a major collapse. Trading in China Evergrande bonds was suspended for the second\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22769,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/11\/21\/china-credit-trembles\/","url_meta":{"origin":270,"position":1},"title":"China credit trembles","author":"Colin Twiggs","date":"November 21, 2020","format":false,"excerpt":"The Washington-based Institute of International Finance (IFF) estimates that China\u2019s total domestic debt is likely to reach 335 per cent of GDP in Q2 of 2020 (up 17% from the preceding quarter). China\u2019s domestic debt, denominated in yuan, consists of three components: corporate, household and government debt. Corporate debt includes\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19585,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/12\/20\/cracks-are-showing-in-chinas-debt-markets\/","url_meta":{"origin":270,"position":2},"title":"Cracks are showing in China’s Debt Markets","author":"Colin Twiggs","date":"December 20, 2019","format":false,"excerpt":"\"You only learn who has been swimming naked when the tide goes out\u2026\" ~ Warren Buffett Beijing's de-leveraging campaign, to set the economy on a sustainable path, is starting to expose some of the excesses in financial markets. Local Government Local governments owe some 49 trillion yuan (about $7 trillion\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14364,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/10\/17\/china-faces-debt-trifecta\/","url_meta":{"origin":270,"position":3},"title":"China faces debt trifecta","author":"ColinTwiggs","date":"October 17, 2016","format":false,"excerpt":"From PIMCO: Given the size of its economy \u2013 and the high stock of debt for a country at its stage of development \u2013 China\u2019s leverage will be a global issue in the future, not just a China issue. Total debt to GDP in China was around 250% at the\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6320,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/china-uncertain-foundations-ft-com\/","url_meta":{"origin":270,"position":4},"title":"China: Uncertain foundations – FT.com","author":"Colin Twiggs","date":"December 3, 2012","format":false,"excerpt":"Simon Rabinovitch at FT writes: Shadow banking is flourishing in China, helping to make non-bank institutions as big a source of credit as banks themselves since July \u2013 something that has never happened before. Chinese bankers, leading rating agencies and the International Monetary Fund have all warned about risks from\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9912,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/05\/26\/china-isnt-just-slowing-down-its-contracting-business-insider\/","url_meta":{"origin":270,"position":5},"title":"China Isn’t Just Slowing Down \u2014 It’s Contracting | Business Insider","author":"ColinTwiggs","date":"May 26, 2014","format":false,"excerpt":"Kyle Bass, founder and principal of Hayman Capital Management, on China's debt bubble: China\u2019s banking assets have grown to over 100% of its GDP in the last three years, according to Bass. If the U.S. had engaged in similar policies \u2013 which he said would translate to $17 trillion in\u2026","rel":"","context":"In "China & HK"","block_context":{"text":"China & HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=270"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/270\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}