China's 40-Year Economic Boom: 300 Years Cash Used Up

According to confidential sources, China's remarkable development over the past four decades has been underpinned by a massive accumulation of debt. This suggests that China has consumed 300 years' worth of capital in a mere 40 years. In a public speech last September, Zhu Shaoping, who served as the Director of the Legislative Affairs Office of the National People's Congress Financial and Economic Committee for 18 years, unveiled that China's total domestic debt stands at a staggering ¥65 trillion. This encompasses ¥31.9 trillion in government debt, ¥19.3 trillion in corporate debt, and ¥13.8 trillion in household debt.