Practically bankrupt! Local government in China is too much in debt to continue/Banks Evaporate $77B

#Chinainsights#debtcrisis#Chinanews
Watch your stocks! Local government in China is too much in debt to continue, but banks are their lifesaver. The report emphasized that China's local government debt and credit portfolio losses increased, posing a risk to bank profitability, which could weaken earnings growth and put pressure on capital accumulation, thereby affecting the level of dividend payments.
This sounds a bit complicated. What Wall Street doesn't make clear is that the Chinese Communist Party CCP is likely to use the profits of state-owned banks to bail out local government debt.
How high is China's local debt now? Some ordinary Chinese are already realizing the magnitude of the problem.

Have questions? Do you have something to share with us about China? We want to hear from you!
Email: [email protected]
Facebook www.facebook.com/EyesOnChina.

Your support allows us to produce more high-quality videos.
Consider donating at https://www.paypal.com/paypalme/ChinaInsights

Copyright @ China Insights 2021. Any illegal reproduction of this content in any form will result in immediate action against the person(s) concerned.