Commentary
For years, China’s local governments have supported growth by borrowing and spending heavily. Now, the accumulated debt threatens to put yet another hurdle in front of China’s development.
Buildings are seen in Beijing's central business district on Jan. 18, 2019. Greg Baker/AFP via Getty Images
Milton Ezrati
Author
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is "Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live."
