Focus
local government financing vehicles (LGFVs)
China’s Third Plenum Planners Face Big Problems Besides Property Crisis
China’s local governments have supported growth through heavy borrowing and spending big, but their debt loads are another hurdle to China’s development.
ANALYSIS: The Shady Underbelly of China’s Local Government Bonds
With local authorities facing cash-flow problems, there are growing concerns about the $9 trillion LGFV debt market.
Basic Architecture of Chinese Economy Is Broken, Hedge Fund Manager Bass Says
Kyle Bass warns that China’s real estate problems could result in a crash worse than the 2008 financial crisis that originated in the United States.
Is More Infrastructure What China Needs?
Beijing has turned to its default means of economic stimulus: infrastructure spending. It may not do the trick this time.
