The Worst Is Here! China’s Local Debt Nears $15 Trillion, Can’t Pay Interest, Bankruptcy Imminent
The Worst Is Here! China’s Local Debt Nears $15 Trillion, Can’t Pay Interest, Bankruptcy Imminent
Udumbara
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According to official CCP data, by the end of June 2024, local government debt had reached 42.6 trillion yuan. However, Goldman Sachs estimates that the total local government debt, including hidden debts from local government financing platforms, has surged to 94 trillion yuan.
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