148 China’s economic miracle turns to fiscal crisis (asiatimes.com) 🤡 PANIC IN THE CB 🤡 posted 1 year ago by seernewday 1 year ago by seernewday +148 / -0 China's economic miracle turns to fiscal crisis China’s economic growth "miracle" has begun to be overshadowed by an evolving fiscal challenge. The depletion of local governments’ credit capacity has 23 comments share 23 comments share save hide report block hide replies
Local government debt is way higher than explicit official stats show, a burden that must ultimately be shouldered by Chinese households
Indeed. China is notorious for under or over reporting numbers on absolutely everything. Normally based off of whatever makes them look good.
Kind of like our government. I don't know when it officially began but I know Obama did it, maybe our president, Trump, and Biden is still doing it. So I am not certain how long it has been going on here though.