China’s Fiscal Collapse! $18 Trillion Debt, $2 Trillion Deficit, Local Officials Rebellion (opens in new tab)

Local government finances in China are facing a crisis of unprecedented scale\. The public sector has seen delays in salaries payment, cuts in performance bonuses, and reductions or suspensions of public services in many regions\. With a steep collapse in land sales revenue and a local debt crisis, the situation is dire\. Beijing’s coffers are nearly empty, and Zhongnanhai at a loss, while local officials are facing increasingly difficult times\. Join this channel to get access to perks: \#c...