The latest report from S&P Global on the financial situation in China is out. As I mentioned in class, the question is how much don’t we know about the financial situation in China, and how much influence does that unknown element carry into analyses… If you like to have all the detail about the hidden debt (i.e. not officially acknowledged anywhere), here is the detailed report: China’s Hidden Subnational Debts Suggest More LGFV Defaults Are Likely
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