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The relationship between China’s central and local governments says a lot about the Chinese economy and its debt crisis. Beijing’s 1994 tax-sharing reform and the 4-trillion stimulus issued during the 2008 financial crisis contributed to the hidden local government debt or LGFPs (Local Government financing platforms). It linked the real estate bubble to the Chinese debt. What is Xi Jinping doing about the debt crisis?
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We discuss world economy, history, and politics. Our main focus is U.S.-China relations. We make short videos and tell you the hidden stories.
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References:
http://finance.sina.com.cn/g/20090316/15465982206.shtml
https://m.fx361.cc/news/2014/0809/2990354.html
https://www.163.com/dy/article/GO55KUQ90552NDRS.html
https://zhidao.baidu.com/question/59568258.html
https://m.sohu.com/n/376045576/
https://www.reuters.com/article/china-land-local-revenue-0607-idCNKCS2DJ06I
https://zhuanlan.zhihu.com/p/484692457
https://www.imf.org/external/pubs/ft/wp/2013/wp13243.pdf
http://www.budgetofchina.com/wap///////show.asp?id=228
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#localgovernmentdebt #realestatebubble #Chinesedebtproblem #Chinanews #Chineseeconomy #communistChina #Chinalocalgovernmentdebt #politicalstruggle #Chinaeconomicreforms #Chinesedebt
