Just as I said the last time this story popped up: https://news.ycombinator.com/item?id=17542113 https://news.ycombinator.com/item?id=17542113 People cannot use

Just as I said the last time this story popped up: https://news.ycombinator.com/item?id=17542113 https://news.ycombinator.com/item?id=17542113 People cannot use their intuition built on a western context on China. Unlike western local governments whose taxes comprise of the majority of their funding Chinese local governments collect close to no tax. Their funding comes primarily from money borrowed from other parts of the government which is standard practice and not alarming. An analogy is like a company whose sales department generate all the cash and the engineering department generates no cash and owe billions to the sales department. Is the eng department in crisis? Obviously not. Still, oversight needs to be exerted over the eng department to make sure that it doesn't overspend or develop projects that are low in ROI... an eternal challenge.