The international financial system faces a “dollar twilight dilemma” that will result in a transition from the dollarized financial system of the past seven decades to some form of multi–key currency relationship, which will include a s
Global Economy, Money & Finance, GDP, Government Finance
Estimated at RMB 10.7 trillion as of the end of 2010, China’s local government debt has expanded rapidly over the past several years. The country's fiscal position, however, is not yet an acute concern and will not likely pose immediate threats to economic growth.
China achieved its position as the largest manufacturing economy through extremely fast growth in physical volume of manufacturing activity and modest inflation. When accounting for population, however, China has high manufacturing intensity for a developing economy but is well behind advanced countries such as the United States.