National Debt of China is $5.48 Trillion Dollars
May 2020 - China's Debt is 48.4% of GDP.
The national debt[note 1] (or government debt) of the People's Republic of China is the total amount of money owed by the government and all state organizations and government branches of China. As of May 2020, it stands at approximately CN¥ 39 trillion (US$ 5.48 trillion),[1] equivalent to about 48.4% of GDP.
Standard & Poor's Global Ratings has stated Chinese local governments may have an additional CN¥40 trillion ($5.8 trillion) in off-balance sheet debt.[2] The high debt level is a current economic issue facing China.[3][4][5]
China's $5.48 Trillion + $5.8 Trillion (off-balance sheet debt) = $11.56 Trillion Dollar Debt.
Sauce: https://en.wikipedia.org/wiki/National_debt_of_China#cite_note-3
China's Debt Default is Alarming
Nov. 24, 2020
(Bloomberg) Chinese companies are facing a reality check after years of ramping up debt. A crackdown on unregulated lending so-called shadow banking – and tighter rules on asset management made it harder for some to borrow fresh funds to repay existing debt, leading to a record number of bond defaults in 2018 and 2019.
Shadow Banking
Chinese companies have been piling on debt for at least a decade, ever since the leadership team under President Xi Jinping’s predecessor responded to the 2008 crisis by going on a borrowing binge. That kept China’s economy chugging, but at a cost. The corporate debt to GDP ratio surged to a record 160% at the end of 2017, from 101% 10 years earlier.
Sauce: https://www.bloombergquint.com/quicktakes/why-china-s-debt-defaults-are-more-alarming-this-time-quicktake
Who does the Chinese Communist Government OWE these $Trillions of Dollars in Debt to?
Over the last 40 years, the mighty manufacturing resources of the USA has been transferred over to China. This has closed over 56,000 Factories in America, and gutted the American Middle Class, while this offshoring of our manufacturing base to China has given rise to their Middle Class, and China's booming economy created a huge class of Chinese Millionaires and Billionaires.
It's as if China was being prepped for decades to be the next World Power as America was sucked dry.
Nations' Governments are controlled by their Money Overlords, China would not be making these moves against America unless it was allowed.
By who?