Once soaring revenues in the world’s largest gambling hub are plunging faster than during the financial crisis. This indicator of the Chinese economy is flashing red.
As the world’s biggest net importer of crude, China is in a vulnerable position: utterly dependent on oil imports, at a time when its economy is beginning to wobble.
by Wolf Richter • • Comments Off on Who Will Be Assigned To Eat The Losses ‘Hidden’ On China’s Balance Sheets?
Transferring bad debt from local governments to the central government does not address the cost of resolving the bad debt. Because bad debt doesn’t just disappear.
