https://www.ft.com/content/adabd0ae-d0f3-11e8-a9f2-7574db66bcd5 For the TLDR; a lot of local Chinese governments took on a lot of debt to finance projects that they may not be able to pay back AND many of these debts are not showing up on the normal balance books. I'm wondering if this could be the issue that causes the next worldwide financial crisis.
Was talking to my partners in Malaysia and this is a huge concern in Asia, interesting to see how it goes.
A link without the subscription. https://www.cnbc.com/2018/10/16/china-hidden-local-government-debt-could-be-6-trillion-sp.html It is higher than ours I guess.
