China’s debt threat

China responded to the global financial crisis with a huge surge in debt-fuelled investment. How bad has its debt problem become? Is there a risk of a financial crisis in China or of a sustained decline in growth, as a result of poorly-allocated capital?

Mixing analysis from Martin Wolf and in-depth reporting, our writers will seek to answer these vital questions

Critics say project is dependent on unsustainable government subsidies

Ambitious programme dogged by doubts over ability to pay or high price tags

In the latest part of an FT series, Tom Hancock and Wang Xueqiao look at the boom in household borrowing

In the second part of an FT series, Gabriel Wildau and Yizhen Jia explain how reliance on short-term funding and exposure to the industrial economy have put some lenders at risk

In the first piece of an FT series, Martin Wolf explains why the risks of a destructive slowdown are growing even within Beijing’s managed system

What impact is it having on daily life, and outside the country?

More from this Series

Officials say stimulus is ‘fine tuning’ but critics warn of return to old playbook

Weaponising the currency would court mutually assured destruction

Increased borrowing by private groups softens economic impact of deleveraging