China Seeks to Defuse Its $4.5 Trillion Local Hidden Debt Bomb
U.S. one-hundred dollar bills and Chinese one-hundred yuan banknotes are arranged for a photograph in Hong Kong, China. (Photographer: Xaume Olleros/Bloomberg)

China Seeks to Defuse Its $4.5 Trillion Local Hidden Debt Bomb

(Bloomberg) -- China’s multi-year campaign to contain financial risk is re-focusing on the so-called “hidden debt” owed by local governments, as officials seek to reduce repayment pressures amid fa...
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