Where Data Tells the Story
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China closed 2025 with $2.33 trillion in external debt.
🔹 Short-term vs long-term:
More than half (56%) is short-term, with a big chunk tied to trade—showing how closely debt is linked to global commerce.
🔹 Who holds the debt?
🔹 What form is the debt in?
🔹 Currency mix:
🔹 The big picture:
All key risk indicators remain within global safety levels—meaning China’s external debt is large, but still under control.
💭 Question:
With such a high share of short-term and trade-linked debt, do you think China’s exposure to global shocks is increasing or manageable?