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China’s central government is borrowing more to help diffuse a $9.3 trillion time bomb in hidden local debt. The resulting shift in fiscal power has its own risk: demotivating regional officials. Beijing’s rare decision to issue 1 trillion yuan ($137 billion) of central debt, and transfer the funds to local…
(Bloomberg) -- China’s central government is borrowing more to help diffuse a $9.3 trillion time bomb in hidden local debt. The resulting shift in fiscal power has its own risk: demotivating regional officials.Most Read from BloombergS&P Logs Worst Day in Two Months, Bonds Power On: Markets WrapTrump Barred From Colorado Ballot in Unprecedented RulingThe Hedge Fund Traders Dominating a Massive Bet on BondsApple Races to Tweak Software Ahead of Looming US Watch BanOnce Africa’s Richest Woman, Dos
A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Join our team and their expert guests for analysis and discussion on the day's top business stories live every weekday morning 8.05am to 9am (HKT) on RTHK Radio 3. Listen live here https://www.rthk.hk/radio/radio3 Find us on Facebook, on Twitter @MoneyTalkRadio3, or email us at moneytalk@rthk.hk
After hitting a 14-year high of almost $420bn last year, the surplus on the current account is expected to narrow sharply this year.
A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Join our team and their expert guests for analysis and discussion on the day's top business stories live every weekday morning 8.05am to 9am (HKT) on RTHK Radio 3. Listen live here https://www.rthk.hk/radio/radio3 Find us on Facebook, on Twitter @MoneyTalkRadio3, or email us at moneytalk@rthk.hk