World News@lemmy.worldEnglish · 10 days ago

China announces trillion-dollar bailout as debt crisis looms

www.semafor.com

cross-posted to:
worldnews@lemmit.online

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China announces trillion-dollar bailout as debt crisis looms

www.semafor.com

Joker@sh.itjust.works to

World News@lemmy.worldEnglish · 10 days ago

cross-posted to:
worldnews@lemmit.online

China announces trillion-dollar bailout as debt crisis looms | Semafor

www.semafor.com

Burdened with huge debts, provincial authorities have been left struggling to provide basic services and pay civil servants.

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10 days ago
They’re not going to do this with cash. They’ll print up some paper money (eg. bonds) like everybody else and make the poor subsidize the rich via inflation.

https://www.ft.com/content/b2feba22-5064-4eb1-84b1-3003cac36def

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