Beijing, Oct 2 (TIWN) The default troubles at the globes most indebted property development, Evergrande seem like small embers compared to the $8.2 trillion worth of China local government financing vehicles outstanding, Forbes reported.

The data that Goldman's Maggie Wei highlights is as of the end of 2020. Clearly, the tally is higher now, perhaps markedly.  Ten months ago, these shadowy investment schemes had reached 53 trillion yuan, up from 16 trillion yuan, or $2.47 trillion, in 2013. They now amount to roughly 52 per cent of China's gross domestic product, topping the official amount of outstanding government debt, Forbes said. 

In other words, as scary at the $300 billion Evergrande story might be, Xi's government has much bigger problems on its hands.