Analysts estimate China’s outstanding government debts surpassed 123 trillion yuan last year, of which nearly $10 trillion is so-called “hidden debt” owed by risky local government financing platforms that are backed by cities or provinces. As the financial pressure has mounted, regional governments have reportedly been slashing wages, cutting transportation services and reducing fuel subsidies in the middle of a harsh winter.
“No doubt, China’s current debt crisis has the potential to exacerbate existing socio-economic tensions,” Singleton said, adding that renewed public protests like those in late 2022 could emerge, as Chinese citizens come to terms with “vanishing jobs, closed businesses and reduced wages.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
China is also invading the world with COVID variants. That too is war, a kind of asymmetric warfare without a declaration of war, but with a similar effect in the long term! PS.: And who demands compensation?
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Super Bowl party people rejoice: Chicken wings and guacamole will cost less this year | CNN BusinessSuper Bowl LVII is right around the corner and there's a lot to celebrate this year, other than the game itself and Rihanna headlining the halftime show. Thanks Joe Biden. You just say things. What world are you living in Total BS! Everything is way up! No wonder your ratings are in the toilet
Source: CNN - 🏆 4. / 95 Read more »
TikTok CEO to testify before Congress in March | CNN BusinessTikTok CEO Shou Zi Chew will testify at an upcoming hearing before the House Energy and Commerce Committee, a committee spokesperson confirmed to CNN Monday. So the CCP will be testifying on US soil.. Shut down tiktok, shutdown spyware Lets shut down tiktok and then go for youtube shorts
Source: CNN - 🏆 4. / 95 Read more »
Ford drops the price of its Tesla competitor | CNN BusinessFord is boosting production of its popular Mustang Mach-E electric SUV and dropping its sticker price weeks after Tesla dropped prices of its vehicles. The move represents a substantial roll-back of price hikes Ford announced last summer on the 2023 models -- but buyers may still be paying somewhat more than before the increases. Popular? cant believe you got me to click on a article. Well played. I've never seen one on the road, but I'm sure it's a huge hit
Source: CNN - 🏆 4. / 95 Read more »
US court rejects J&J bankruptcy strategy for tens of thousands of talc lawsuits | CNN BusinessJohnson & Johnson’s strategy to use bankruptcy to resolve the multibillion-dollar litigation over claims its talc products cause cancer was rejected by a federal appeals court on Monday, but the healthcare conglomerate said it would challenge the ruling. Will they do the same with their vaccines? I love this baby powder 🥰 SIfill_ 2 tiered system ftw
Source: CNN - 🏆 4. / 95 Read more »
Prosecutors say Sam Bankman-Fried tried to obscure his crimes with Robinhood's stock | CNN BusinessUS federal prosecutors have said FTX founder Sam Bankman-Fried’s efforts to control about $500 million worth of Robinhood shares last year indicates steps the former crypto entrepreneur has taken to “obscure” his alleged crimes Is this why robinhood froze out on the GME? Biblioteca Tramonte in Palermo
Source: cnni - 🏆 326. / 59 Read more »