China debt problem 2020: rising levels likely

Although the economic upturn in China is impressive, it has been heterogeneous and, based on current data, probably not sustainable, says Gerwin Bell, Lead Economist for Asia on the Global Macroeconomic Research team at PGIM Fixed Income. The economic upswing has revived patterns such as rising foreign trade surpluses and rising domestic debt. We talked to him about China's debt problem in 2020 and the impact on the country's fixed income market.

00:26 There are signs of rising default rates of state-owned companies in China. What is your opinion on the current development?

03:14 China's economic recovery seems remarkable given the problems facing the West. You describe this as not particularly sustainable. Why is that?

12:28 How does the current situation affect China's efforts to reduce debt and get the shadow banking system under control?

18:35 Developments on China's bond market

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