China's Startling Local Debt Problem
China’s local governments went on a massive development binge starting in 2008 that has put them 10.78 trillion yuan (US$1.69 trillion) in debt, equivalent to 27 percent of the country’s entire GDP, according to a study of Chinese local government debt by the Seoul-based Samsung Economic Research Institute.
Although it isn’t news that China’s local gover…
Keep reading with a 7-day free trial
Subscribe to Asia Sentinel to keep reading this post and get 7 days of free access to the full post archives.