George Soros and some other Investors worry about China’s debt

Still strong: A file picture showing people walking on an overpass in central Beijing overlooking on-going projects. Despite rapid growth, household debt in China is far below levels in the US before the subprime crisis. – AFP

HONG KONG: Some prominent investors are worried about China’s debt.

George Soros sees an “eerie resemblance” between conditions in China now and those in the US leading up to the financial crisis in 2008. “It’s similarly fueled by credit growth and an eventually unsustainable extension of credit,” Soros told the Asia Society in New York in April.