A growth recession, in which the economy expands at only 7.3%.
Will the GITICs ... withstand such a horrific shock?
Well, for comparison:
US national debt is about 20 times China's on a nominal basis, five times on a purchasing-power-parity basis, almost four times on a debt-to-GDP basis, and 100 times on a per capita basis. US per capita income is about 35 times that of China in 2005, which means each US citizen is carrying almost three times the national debt-to-income ratio as his or her Chinese counterpart.
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