How China’s Debt Crisis Became the Reason of its Economic Downfall | Vantage with Palki Sharma

How China’s Debt Crisis Became the Reason of its Economic Downfall | Vantage with Palki Sharma China’s local governments owe a whopping $13 trillion in debt, according to a report released by Goldman Sachs. Officials from debt-ridden Chinese provinces Liaoning and Hebei were in Beijing last week for a crisis meeting. They spoke to bankers and discussed ways to restructure their debts. To contain the rising debt, China has advised its local governments to scale back on infrastructure projects. Palki Sharma tells you how this situation is impacting the Chinese economy. --- China | Debt Crisis | Economic Downfall | Goldman Sachs Report | Local Governments | Firstpost | World News | Vantage | Palki Sharma #china #debtcrisis #economicdownfall #goldmansachs #report #localgovernment #firstpost #vantageonfirstpost #palkisharma #worldnews Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens. The show is anchored by Palki Sharma, Managing Editor, Firstpost. By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories – making Vantage a destination for thought-provoking ideas. Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms. ​ Subscribe to Firstpost channel and press the bell icon to get notified when we go live. @Firstpost Follow Firstpost on Instagram: Follow Firstpost on Facebook: Follow Firstpost on Twitter: Follow Firstpost on WhatsApp: