Hegang, a remote coal town in northern China that faced a mountain of debt, was forced to undergo an unprecedented financial restructuring. And it’s not alone. A local debt problem in some of China’s cities threatens to be a drag on the world’s second-largest economy for years to come.

Bloomberg’s Colum Murphy and James Mayger join this episode from Beijing to talk about what’s happening in Hegang and other cities, and why China’s local debt challenges may be felt well beyond its borders.

Read more: China’s $23 Trillion Local Debt Mess Is About to Get Worse

Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK

Have questions or comments for Wes and the team? Reach us at bigtake@bloomberg.net.

This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producer: Federica Romaniello, Associate Producer: Zaynab Siddiqui. Sound Design/Engineer: Gilda Garcia.

Hegang, a remote coal town in northern China that faced a mountain of debt, was forced to undergo an unprecedented financial restructuring. And it’s not alone. A local debt problem in some of China’s cities threatens to be a drag on the world’s second-largest economy for years to come.
Bloomberg’s<a href="https://www.bloomberg.com/authors/AUHPtat0hJ0/colum-murphy"> Colum Murphy </a>and <a href="https://www.bloomberg.com/authors/AQug5IYzEQE/james-mayger">James Mayger </a>join this episode from Beijing to talk about what’s happening in Hegang and other cities, and why China’s local debt challenges may be felt well beyond its borders.
Read more: <a href="https://www.bloomberg.com/news/features/2023-05-21/china-s-23-trillion-local-debt-crisis-threatens-xi-s-economy?utm_medium=email&amp;utm_source=newsletter&amp;utm_term=230522&amp;utm_campaign=bigtake">China’s $23 Trillion Local Debt Mess Is About to Get Worse</a>
Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: <a href="https://bloom.bg/3F3EJAK">https://bloom.bg/3F3EJAK</a> 
Have questions or comments for Wes and the team? Reach us at <a href="mailto:bigtake@bloomberg.net">bigtake@bloomberg.net</a>. This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producer: Federica Romaniello, Associate Producer: Zaynab Siddiqui. Sound Design/Engineer: Gilda Garcia.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

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A Debt That Could Stunt China's Economy

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/90f3109d-5252-4ee4-9696-b013014f455d/transcript

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