China is sitting on a bomb that’s about to explode. And it’s so massive, it could leave a black hole in its wake. China’s local governments have accumulated massive amounts of debt. And there doesn’t seem to be an easy solution to getting them out.
China is sitting on a bomb that’s about to explode. And it’s so massive, it could leave a black hole in its wake. China’s local governments have accumulated massive amounts of debt. And there doesn’t seem to be an easy solution to getting them out.
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