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Curated by Project Syndicate

Should We Worry About Debt?

5 commentaries

The IMF recently warned China that four-fifths of its banks need more capital, while the Trump administration’s tax plan threatens to explode the US budget deficit. Is debt poised to wreck global financial stability?

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  1. rodrik174_STRAFP via Getty Images_chinafacemaskfactorymanufacturing STR/AFP via Getty Images

    China as Economic Bogeyman

    Dani Rodrik

    Many Western economists presume that governments are not very good at identifying industries that merit support, and that domestic consumers and taxpayers incur the bulk of the costs. By the same logic, if Chinese policymakers effectively targeted activities where social benefits exceed private benefits, then it is not clear why foreigners should complain.

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