The last time China hit a recession, in 2008, Beijing dumped massive stimulus into the economy. This time, China's debt — over $50 trillion — has grown to the point it can't afford it.
Peter St. Onge
Peter St. Onge is a Mises Institute Associated Scholar and an Economic Research Fellow at the Heritage Foundation. St. Onge received his PhD from George Mason University and was a 2014 Mises Institute Research Fellow. For more content from Dr. St. Onge, subscribe to ProfStOnge Weekly where he writes about Austrian economics and bitcoin.