More Than 25 Million in China Owe Loans, Relying on “Borrow-To-Pay,” Set to Destroy the Economy

Many people in China are currently burdened by debt. To repay mortgages and cover daily expenses, many rely on loans to survive. China’s online lending platforms have low barriers to entry, leading an increasing number of people to live off loans, especially those who have long struggled to find work. For them, online lending has become almost the only option.
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