The problem with you guys is, you don't conduct basic research and compare apples to apples.
Here is the original article where Time got its information and they "deliberately" cherry-picked the data.
Read below:
"China's debt-to-GDP ratio climbed to a new record high in 2023 despite the slow pace of borrowing, reflecting the economy's weakening growth, a new report from a state-backed think tank shows.
The macro leverage ratio, which measures total outstanding nonfinancial debt as a share of nominal gross domestic product, rose to 287.8% in 2023, 13.5 percentage points higher than a year ago, according to a report by the National Institution for Finance and Development (NIFD).
The expansion of the overall leverage ratio has outpaced the growth of borrowing. The total liabilities of the household, corporate and government sectors expanded at a slower pace of 9.8% in 2023, largely unchanged from 2022, and remained at a relatively low level, according to the report.
The debt ratio held by households rose 1.3 percentage points to 63.5%, while that of nonfinancial corporates increased 6.9 percentage points to 168.4%. The government debt ratio, meanwhile, expanded 5.3 percentage points to 55.9%."
https://asia.nikkei.com/Spotlight/Caixin/China-s-debt-to-GDP-ratio-climbs-to-record-287.8-in-2023
Go on, bring out your calculator and do the following:
63.5+168.4+55.9 = 287.8
OMG, now how easy was that???
Now, if you compared Apples to Apples - ie. Chinese Gov debt ratio/GDP versus US Gov debt ratio/GDP, what do you get???
Yup, 55.9% versus 124.3%.
Lol
