Global recession fears are rising. CNBC takes a look at some of the potential triggers for a contraction.
in September. Expectations among consumers for the short-term outlook also fell sharply in the same month.
The report said Beijing's attempt to rein in non-financial corporate debt had been rather defeated by borrowing in other sectors which had brought China's total debt pile toChina has said time and again that its borrowings are manageable, but policy levers are hampered by the risk that choking off further debt could accelerate the slowing of economic growth that is already underway.
Rothman said that while China's main problem is corporate debt, which has steadily risen since the 2008 global financial crisis, most of the borrowings were taken out by state-owned enterprises from state-run banks.Riot police detain a woman as anti-government protesters gather at Sha Tin Mass Transit Railway station to demonstrate against the railway operator, which they accuse of helping the government, in Hong Kong, China September 25, 2019..
Western firms may also think again about basing employees or deploying capital in Hong Kong, especially following the vivid example of Cathay Pacific. Under pressure from Beijing, the airline's chief executive wasafter it was found that employees, including pilots, had been active in the protests. This will make dollar-denominated loans more expensive. The country has $80 billion worth of debt due in 2019 and 2020 — raising the prospect that the country could default on investor debt for the third time in less than 20 years.
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