Next Evergrande? $900 Billion in debt, 24 million loss per day, the highest of its kind in the world

What does 900 billion USD of debt look like? Shanghai, the richest city in China, has a total GDP of $600 billion in 2020, which means that even the whole year of Shanghai’s GDP won’t be able to cover the debt of China National Railway.
$900 billion debt is the official figure. No one knows how much the actual deficit and debt are. The total debt is likely to double that or reach nearly 1,800 billion USD. Why?

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