BRICS: China's Economy Echoing 2008 Financial Crisis of the U.S.
BRICS member China’s economy could be in jeopardy as all factors indicate a financial decline. China’s economy has now reached high debt levels, and government interference in all sectors has strained both small and medium-scale enterprises. In addition, the aging population is worrisome as more citizens claim benefits from health insurance schemes. The Chinese government covers a portion of medical costs for current and retired workers in urban areas. Also Read: BRICS : India Aggressively Dumping the U.S. Dollar, Insiders Say However, the Chinese boom might soon come to an end as its economy is echoing the 2008 financial crisis of the U.S. The Communist country might experience a full-blown financial crisis that could take years to recover from. BRICS: China Mirroring the U.S. Financial Crisis of 2008 Source: Indiatimes.com The Chair of Rockefeller International, Ruchir Sharma, told the Financial Times that China’s miracle path no longer exists. Sharma hi...