China | Peering into the local government debt: rising risks call for prompt actions

Summary

We attempt to answer the questions regarding China’s local government debt: (i) what’s the total size of the local government debt; (ii) why the local government debt has grown to today’s level despite the central government’s clamping-down efforts; (iii) whether the risks are still manageable; and (iv) how can the authorities solve this local government debt problem.

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