Overview of the Changde city of Hunan province in China. Photo: Frank Tang

China local governments forced to rob Peter to pay Paul to honour rising debt mountain

  • China’s had 18.4 trillion yuan (US$2.74 trillion) worth of local government debts at end of 2018, equivalent to 20 per cent of nominal gross domestic product
  • Researchers estimate that true government debt level in China may have reached 92 per cent of GDP in 2017 if implicit liabilities were considered
Topic |   China economy

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Overview of the Changde city of Hunan province in China. Photo: Frank Tang
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Minxin Pei, a professor of government at Claremont McKenna College and a non-resident senior fellow at the German Marshall Fund of the United States, wrote ‘China’s Crony Capitalism: The Dynamics of Regime Decay’. Photo: Winson Wong

US-China trade war inactivity could lead to the ‘worst recession in recent Chinese history’, says scholar

  • Political economy professor Minxin Pei says Beijing lacks the will to make radical political changes to deal with the trade war with the United States
  • Also says China’s strong control of the economy will eventually backfire, with economy slowing to its lowest growth point for almost 30 years
Topic |   US-China trade war

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Minxin Pei, a professor of government at Claremont McKenna College and a non-resident senior fellow at the German Marshall Fund of the United States, wrote ‘China’s Crony Capitalism: The Dynamics of Regime Decay’. Photo: Winson Wong
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