Citing debt load, Nomura sees possible meltdown in China

03/26/2013 | ABC (Australia)

Citing total debt as great as 200% of GDP, Nomura is warning that China may be at the brink of the kind of economic meltdown experienced by the U.S. and Europe. "I think the international experience now is littered with examples where if you have a quick run up in debt the effects on the real economy can be very severe," said Nomura chief economist Rob Subbaraman. A crisis could resound in Australia, with both a sharp drop in exports and a rush to the Australian dollar as a safe haven.

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