Dikang, chinaworker.info
80 percent of China’s local government finance vehicles (LGFVs) can no longer meet their bond repayments. The LGFVs are entities owned by local governments that were set up at the time of the global financial crisis in 2008. ...
Housing sales, prices, investment and construction are all down in 2023
Dikang, chinaworker.info
China’s property crisis shows no signs of bottoming out. In 2021, 18 trillion yuan (US$2.46 trillion) worth of property was sold in China, according to...
China’s rulers are destroying ten times as many coal mining jobs as Britain’s ‘Iron Lady’ Mrs Thatcher
chinaworker.info reporters
A tsunami of job destruction is heading towards heavy industry in China. This is especially in the coal and steel ...
China’s leaders in tough balancing act between growing debt mountain and falling growth rate
chinaworker.info
China’s central bank (PBOC) announced on Wednesday 4 February a half percentage point cut in banks’ reserve requirement ratio (RRR) in...
Local government debt has soared but Beijing’s attempt to curb runaway credit misfires again
Vincent Kolo, chinaworker.info
An end-of year scramble for funds by financial institutions drove up interbank lending rates to levels not seen since th...
Credit explosion “unprecedented in modern world history” behind financial volatility
Vincent Kolo, chinaworker.info
World financial markets have been rocked again in recent days. First came the US Fed’s announcement last Wednesday (19 June) tha...
Socialist magazine (published by the Chinese section of the CWI) asked Vincent Kolo, senior editor of chinaworker.info, about rising levels of debt in China and whether this heralds a financial collapse?
Socialist magazine: How serious are China’s...
Far right political forces that spread transphobia have grown in many countries in recent years. This article by our American comrades explains what i...
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