China’s shadowy debt problem leaves local governments perilously exposed to a property downturn, NAB says – Business Insider Australia

Analysts at NAB remained concerned about the buildup of excessive leverage in Chinas opaque financial system. In particular, they said a troubling debt buildup at the local government level leaves China particularly exposed to any property downturn. NAB said the issue has been lingering since 2013, after local governments used debt to carry out an…