China's Local Government Debt Problem May Have Doubled
In August, China's National Audit Office embarked on a comprehensive attempt to determine how much money is owed by the country's local governments as the result of a massive borrowing binge that began in 2008. While no official report has been released, it appears that the figure may be twice as big as it was thought to be just two years ago - 19 trill…
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.