China’s debt to decline to 21% of GDP by 2016: Moody’s
If local government debt remains constant through to 2016, the rating agency predicts total debt will decline to 21% of gross domestic product based on current economic growth and fiscal policy.
Total general government debt – which includes both central and local government debt – is expected to fall from 33% of gross domestic product (GDP) in 2011 to 21%, only if local government debt remains constant over the next five years through 2016.
“In any event, we expect
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