It comes as debt continued to rise in the Chinese economy over the past year as authorities tried toChinese authorities had tried to curb further growth in borrowing
even before the pandemic, fearing that elevated debt levels would threaten the health of the world's second largest economy.Li also warned that the relative strength of the U.S. economy increases the risk of capital flight from China and other parts of the world. Capital flight occurs when money or assets leave one country when another offers better investment returns or opportunities.
"Not only foreign money formally invested in Chinese economy will look ... for alternative in going back to the U.S., but also a lot of Chinese domestic money will be lured away from the Chinese economy.
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