GENERAL
China’s Economic Abyss: Local Governments ‘Eating Themselves Alive’ Amidst Unprecedented Fiscal Distress
China's local governments are reportedly resorting to desperate and unsustainable measures, including liquidating future assets and aggressively squeezing the private sector, to stave off financial collapse. This internal economic cannibalization, driven by plummeting revenues, mounting debt, and a lack of fiscal autonomy, risks exacerbating China's broader economic fragility and potentially unleashing a systemic crisis.
