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Jiang’s explanation for why Chinese bank debt is less likely to implode nationally: liabilities are held in local rather than national structures.
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localized debt
Jiang’s explanation for why Chinese bank debt is less likely to implode nationally: liabilities are held in local rather than national structures.
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model
China avoids immediate banking implosion because debt is localized rather than nationalized, unlike Japan.
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Transcript
"prevents it from imploding is the fact that all debt in China is localized instead of nationalized all right? So even though these Chinese..."
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