🧨 BEHIND THE CURTAINS: IS CHINA'S ECONOMY MORE FRAGILE THAN IT LOOKS?
According to the IMF, China's public debt in 2023 was just 84% of GDP, far lower than the U.S. or Japan. Meanwhile, central government debt by the end of 2024 is projected at only 25.6% (~$4.23T).
BUT — when including hidden liabilities, China’s real debt could hit 300–450% of GDP — up to 3.7x more than the U.S.
🕵️♂️ Math ain’t mathing. What else is buried in the books?