China is underestimating its US$3 trillion dollar debt and this could trigger a financial crisis, says economist

The Fed raising interest rates is one of the reasons people give for the United States economy slowing and, possibly, entering into a recession.

There is another country that is equally as affected. China borrowed $3 trillion worth of dollar backed dect to fuel it's grow. This could send that country into a recession with the rise in interest rates.

It is also something the Chinese are underestimating according to one economist.

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