Economic Problems Facing China in the Recent Years

Over the years, China has been seen as the economic giant that has been growing steadily due to its ever-growing population. China is considered as the second largest economy in the world pumping a lot of funds in the global economic development platform. China is the most populated country in the world with over 1billion people in the recent population study. As such, the population provides enough human labor to compete with other countries in the world. But in the recent years, professionals in the economic world have started sighting issues that might affect the economic growth of China. Kyle Bass is one of the leading economic investment personality and expert who has risen to the global limelight through his knowledge of the economy. He is the Founder and President of Hayman Capital Management based in United States of America. He has openly talked and criticized the Chinese government on the process of economic growth. This is through his various interviews in the media where he has articulated that Chinese banks have grown very large than their GDP. As such, this is bound to affect the process of economic growth since a few people will be able to access loans and repay them in the stipulated time. He has hinted that a lot of countries in Asia lend money to China without realizing their economic situation which could worsen with time. This proves to be an economic problem that will ultimately affect the whole of Asia and subsequently the world at large.

Kyle Bass has continued to hit the international headlines through various initiatives he has invested in life. For instance in 2006, he made a lot of money and received fame by correctly predicting the 2008 subprime mortgage crisis. As a result, he received global recognition which made him to be nominated for both the director and script writer of the Sixth Sense. All this activities made him to attract quite a large following from the entire United States of America population. He has taken most of his time on the media where he goes for many television shows to shade light on issues affecting people.

He has openly defended Argentina over its default in paying the sovereign debt for the second time in 13years. He is a fears critic who aims at protecting his home land Argentina against any challenges that may affect its economic growth. He talked when he echoed support from the Argentina minister of economy Axel Kicillof who openly defended Argentina on the wrong doing against the repayment of the money. He further defended Argentina from the ruling that was given by the New York Judge Thomas Griesa about paying creditor owing Argentina. He termed this as exploitation of the poor nation that has many people living below the poverty line.

One thought on “Economic Problems Facing China in the Recent Years”

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