Wuhan "Names and Shames" Hundreds of Debtors | Vantage on Firstpost
The city of Wuhan published the names of 250 debtors in a state-owned newspaper, signalling the financial distress that has plagued local governments. Reports say China 's total government debt is $23 trillion, which is around twice the national GDP. How did the local governments rack up so much debt? What happens next?