Tech Buzz China Insider • 0 implied HN points • 01 Oct 21
- China's urbanization led to over 200 million people living in cities without proper residency permits, creating a challenge for accessing public services based on hukou.
- China's debt compared to GDP is similar to America's, with more corporate debt than government debt due to underdeveloped equity markets.
- China's economic success from globalization also brought domestic imbalances like heavy production and under-consumption, leading to reliance on exports and trade conflicts.