Student or Learner
How should I understand the sentence outlined below?
Thanks in advance.
To the extent that risk has been distributed, it is largely from state-controlled banks to other state entities in increasingly arcane ways. This distorts external perceptions of China’s solvency. State debt appears to be quite low by international standards (just under 20% of GDP) but when all government obligations are lumped together, the authors reckon it is actually 76%.
Though I am neither an economist, banker or other financially minded person, I would suggest that the meaning could simply be expressed as follows:
Some (but not necessarily all) risk undertaken by state controlled banks has been distributed mostly (but not entirely) amongst other state entities (whatever they are).
Hope this helps.
Uncle M (not a teacher)