Can China contain its $8.3 billion fiscal crisis?

For years, China#39;s municipalities relied on off-balance-sheet entities to fund infrastructure and support local economy.  As a consequence, local government financing vehicles#39; debt has risen to $8.3 trillion, or 48 percent of China’s GDP

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​ For years, China#39;s municipalities relied on off-balance-sheet entities to fund infrastructure and support local economy.  As a consequence, local government financing vehicles#39; debt has risen to $8.3 trillion, or 48 percent of China’s GDP For years, China#39;s municipalities relied on off-balance-sheet entities to fund infrastructure and support local economy.  As a consequence, local government financing vehicles#39; debt has risen to $8.3 trillion, or 48 percent of China’s GDP  Moneycontrol Latest News Read More