Millions Of Civil Servants Lose Pay & Social Security: China’s Fiscal Collapse, $100B Hole Unfilled

Shenzhen, known as one of China’s wealthiest cities and a place where per-capita GDP has long surpassed Beijing, Shanghai, and Guangzhou, was once seen as a showcase and benchmark of China’s rapid economic growth. Now, the fact that even government employees there are struggling to get paid is hard to imagine.

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