Definition: Government debt (also known as public debt, national debt,) is money (or credit) owed by a central government.
The Chinese government are currently sitting on a debt of 18.9% of their GDP ($1.110942 Trillion US). This bad debt has been generated through cheap credit and huge stimulus packages.
Source: Taken from
http://www.gaspricenews.com/wp-content/uploads/2011/01/world-us-china-debt-comparison.png
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