Dec 25

Chinese State Firms’ Debt Hits New All Time High, As Profits Tumble:

As SOE profits continue to deteriorate at the expense of maximizing jobs and employment (recall the biggest threat facing China is a working class insurrection, or simply said, “lower and middle-class revolution”) debt at these same SOEs just hit a new record high: according to the same FinMin numbers, total SOE debt rose by CNY393 billion to CNY78.3 trillion, or over $12 trillion – well above 100% of total Chinese GDP.

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