China Faces $10 Trillion Crisis, Civil Servants Fear No Salaries, Time Bomb Set to Explode in 2026
China Faces $10 Trillion Crisis, Civil Servants Fear No Salaries, Time Bomb Set to Explode in 2026
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There have already been many cases in China where financial difficulties have led to civil servants not being paid. Recently, however, a leaked internal message from a government civil servant caused a stir. It mentioned that China’s 100 trillion yuan local government financing vehicle debt is set to “blow up” in 2026.
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