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RED LANTERNS Local administration debts weighs heavily on post-Covid recovery in China

The huge debts of cities and provinces are hindering the recovery, reducing Beijing's chances of stimulating the economy. The emblematic case of Guizhou which has a debt rate of 61.8% after huge investments in tourist facilities that have remained empty. The Wuhan Municipal Finance Bureau published an advertisement in the newspaper asking government agencies to pay off outstanding tax debts.
Goldman Sachs Xinhua News Agency Chinese National Bureau Of Statistics Fu Linhui International Monetary Fund Wuhan Municipal Finance Bureau Rhodium Group

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Floating of a third Disney theme park mirrors partly Chinese people's penchant for US cultural products, contrasts ridicule of US politics

Changsha became the latest Chinese city in recent months to dismiss rumors that it will become home to the third Disneyland park in China. While the clarification dampened local residents anticipation for a nearby Disneyland theme park, the power of these rumors also reveals the Chinese publics penchant for US cultural products has not been dampened by strained bilateral ties.
Hong Kong United States Henry Kissinger Zhang Yiwu Shanghai International Global Times Research Center

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