Not far Behind: China's Debt Equals 43 Percent of Country's GDP

We have been tracking multiple stats on China's economic troubles. We spotted this today:

"China's government debt amounts to about 17.5 trillion yuan (USD 2.78 trillion) about 43 per cent of the country's gross domestic product ( GDP), Yang Kaisheng, president of the Industrial and Commercial Bank of China, said today.

It is composed of 10.7 trillion yuan (USD 1.7 trillion) of local government debt and 6.8 trillion yuan of central government debt"

Statistics Source: Next Big Future