Assessments

China hopes to ease its debt crisis by targeting local governments. The real crisis, however, lies with the country's corporations. 

China's Debt Crisis: Missing the Mark

<ul><li>China is granting local governments greater autonomy by allowing them to swap up to $160 billion in outstanding loans for lower-interest, slow-maturing government bonds.</li><li>The program will provide a crucial buffer against local government debt crises in 2015 and beyond.</li><li>The initiative may reduce economic stress in the near term but fails to address the largest contributor to China&#39;s crisis: corporate debt.&nbsp;</li></ul>

ASSESSMENTS

China's Debt Crisis: Missing the Mark

Forecast Highlights

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