China’s ballooning local government debt is a problem that cannot be brushed aside. Given how important local governments are to China’s economy, Xi Jinping’s administration is on an overdrive to fix the crisis before it is too late. Among the ‘basket of measures’ that Beijing has promised are special bond issuance, debt swaps, & loan rollovers. The basket of measures are a big development in the context of Chinese economic planning.
#china #xijinping #latestnews
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China is the richest country in the world and India is 107 in the starving Index.
According To wion, Since 2001 China gained 120 Trillion in wealth and became the richest country in the world
Wion also reported how India got 45 Trillion taken away from them (by force)
Wion: At $514 trillion, China overtakes US in terms of amassing the biggest net worth
Gravitas: How Britain Looted $45 Trillion From India
Hit 200k today. I'm really grateful for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in June 2022
that’s the cycle ,,, well the chinese elite were always wealthy,,, only a peasant is exploited ,,,
be it a capitalism or communism ,,, it’s just to fool the powerless and poor people ,,,both systems thrive on same goals ,,, and only the ideology is different ,,,founders of communism would have been disgusted by these regimes