China needs to tackle its corporate debt problem before it spirals out of control. That's the message from the International Monetary Fund, which warned China about its debt levels on Friday. "China's medium term outlook is clouding because of high and rising corporate debt," said James Daniel, IMF's mission chief in China. He said the world's second biggest economy must "urgently address the problem." At $25 trillion, China's debt stands at about 254% of GDP, according to data from the Bank for International Settlements. Even though that's high, it's actually pretty close to some other indebted countries in the ... (full story)