亚洲聚焦：全球150年债务激增的历史数据对中国有何借鉴意义（摘要）

虽然中央政府仍有空间扩张资产负债表来管理经济放缓的速度，但再通胀过程可 *全文翻译随后提供 国完全可比的例子。尽管如此，我们的发现对于中国来说具有重要的借鉴意义。 Goldman Sachs 亚洲聚焦 As highlighted by our credit strategists, although Chinese policymakers have striven to keep leverage stable since 2016, the last two years have seen leverage increase again. They estimate China's non-financial debt-to-GDP ratio will rise to 307% at the end of 2024 (图表 2). In this note, we update our previous analysis using more recent data, including the latest releases of the Jordà-Schularick-Taylor Macroh ...