China, debt vulnerabilities of China’s local government level have increased in recent years. Direct borrowing by local govs was first permitted in 2015 but has risen quickly to 24% of GDP,
significantly outpacing growth in local government tax revenues"
imf.org/en/Publication… https://t.co/xgzk2V0WbG
@HnanicekTerry Did you see my subsequent tweet? I get the social justice logic of the tax increases. What I dont
April 13, 2021
@HnanicekTerry Did you see my subsequent tweet? I get the social justice logic of the tax increases. What I dont get is capping investment to