83 Million in China Survive on Online Loans, 34 Million Default, a Country Suffocating Under Debt
83 Million in China Survive on Online Loans, 34 Million Default, a Country Suffocating Under Debt
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Many people in China are currently burdened by debt. To repay mortgages and cover daily expenses, many rely on loans to survive. China's online lending platforms have low barriers to entry, leading an increasing number of people to live off loans, especially those who have long struggled to find work. For them, online lending has become almost the only option.
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