Chinese economic slowdown is a result of debt supercycle | Kenneth Rogoff

Some blame falling global demand, but borrowing by government and property sector has held back growthChina cuts key interest rate amid economic slowdownThe 2008 financial crisis in the US kicked off a debt supercycle, which spread to Europe in 2010 and has recently engulfed many of the world’s low-income and lower-middle-income countries. Could the debt woes of Country Garden, the behemoth Chinese real estate developer now facing billions of dollars in losses, augur the cycle’s next