BREAKING: Local governments in #China racked up as much as $11 trillion in off-the-books debt to build industrial districts, resorts, transit systems and housing projects, including many that failed.
Just $11 trillion? Peanuts 🥜
BREAKING: Local governments in #China racked up as much as $11 trillion in off-the-books debt to build industrial districts, resorts, transit systems and housing projects, including many that failed.
Just $11 trillion? Peanuts 🥜