China’s economy is not immune to the woes that are creeping into Western ones. It has long been a nation of savers but increasing household debt and more banking bailouts are signaling stormy economic weather ahead. Will bitcoin be the savior when the big crunch comes? Savings Down, Debt Up Lifestyle patterns of the West have seeped into China in recent decades. Overstretching to satisfy a growing hunger for materialism will inevitably end in tears.Read MoreThe post Will Bitcoin Solve Chinese Banking, Household Debt Woes? appeared first on Bitcoinist.com.
