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China's Local Governments Face Squeeze From $2 Trillion in Debt
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20 views • November 28, 2022
https://gnews.org/articles/535778
Summary：11/24/2022 China's local governments don’t have the power to tax but are ordered to spend a lot to support the zero COVID policy and the economic growth through massive borrowing by the central government. With a pile of debts maturing and a lot more to spend next year, they are in a real fiscal bind.
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