Global debt exploded the last decade due to the easing of central banks. No place was this more the case than China.
The world's second largest economy accounted for 60% of all new debt worldwide.
Much of the push was mortages. This was responsible for 60% of the total Chinese debt. While China is not the highest in household debt, the question is will it affect the economy.
China is already seeing a slowing economy, a fact that is being felt globally. Another leg down could increase the chance of a recession around the world.
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