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If you read the article it mentions that local governments borrow from government owned banks. Perhaps that explains some of it.
by mevile 9y ago
If you read the article it mentions that local governments borrow from government owned banks. Perhaps that explains some of it.
- pmoriarty 9y agoSo is this a case of merely moving money from one pocket to another? Or are local governments actually independent of China's allegedly totalitarian central government?
- NikolaeVarius 9y agoWe do the exact same stuff. http://money.cnn.com/2016/05/10/news/economy/us-debt-ownership/index.html http://money.cnn.com/2016/05/10/news/economy/us-debt-ownersh... Also as for holders of debt. Japan beats China http://money.cnn.com/2016/12/16/investing/china-japan-us-debt-treasuries/index.html http://money.cnn.com/2016/12/16/investing/china-japan-us-deb...