Some economists analyze that the Chinese government, from the central to the local levels, is facing significant fiscal deficits. The collapse of the real estate market has led to families being afraid to buy houses, businesses hesitating to invest, and people being unwilling to borrow money, creating a vicious cycle. If the government also refrains from borrowing at this time, the entire society could face systemic financial risks.
Regarding China’s weak tax revenues, Taiwanese macroeconomist Henry Wu stated that “six crises have already erupted simultaneously” in China.
#chinaobserver
All rights reserved.
⭐You can support us at: https://donorbox.org/china-observer-supporting-independent-news
⭐For business cooperation, please contact us: business@chinaobserver.co
Six Major Crises Hit China Simultaneously; CCP Initiates Money-Grabbing Mode
