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
By contrast with life insurers, US public pension systems have shifted away from fixed-income securities as interest rates fell. Moodys
June 28, 2022
By contrast with life insurers, US public pension systems have shifted away from fixed-income securities as interest rates fell. Moodys via daily shot newsletter from