Asia Sentinel

Asia Sentinel

US Credit Card Debt Could Shake Asian Exporters

McKinsey report sounds alarm

John Berthelsen's avatar
John Berthelsen
Jun 11, 2020
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A nightmare could be unfolding for US consumers in the form of credit card debt, according to a little-noticed analysis by McKinsey & Co, the international consulting firm, which postulates  a scenario in which they are largely incapable to pay off their cards, “sparking an extended period of elevated losses that could total in excess of U$$130 billion …

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