China Warning: Economy Set for Financial MELTDOWN Amid Soaring Debt Levels

• China Warning: Economy Set for Financial MELTDOWN Amid Soaring Debt Levels
  by LANA CLEMENTS, http://www.express.co.uk/  
  CHINA is on course for a full-scale financial meltdown that could cause havoc across the globe, suggest early warning indicators tracked by the world’s central bank watchdog.
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  The seeds have been sowed for potential financial distress in the world’s second-largest economy, according to the Bank for International Settlements(BIS).
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  Soaring credit growth relative to China’s GDP is a huge cause for concern that could result in financial overheating and distress, warned the organisation – thought of as the central bank of the world’s central banks.
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  Any score above 10 is a worry but China’s gap is measured at a huge 30.1 – higher than even the US before the financial crisis. By comparison the debt-laden countries of Greece and Italy score -13.2 and -13.7 respectively. The measure stands at -27.0 in Britain.
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