Part 2/14:
One of the most alarming signs is China's soaring fiscal deficit. By late September, China's fiscal deficit had ballooned to nearly 9 trillion yuan, against revenues of 19 trillion yuan, pushing the deficit ratio to a staggering 45%, the highest in history. When visualized through comparative charts, the trend becomes even clearer: deficits have been climbing steadily from 20% pre-COVID to 37% last year, and now potentially exceeding 50% by year's end.