http://www.bloomberg.com/news/2011-05-31/china-may-shift-debt-away-from-local-governments-reuters-says.html
“Many of those loans will not be repaid and ultimately it is the central government that will probably have to bail out either the banks or local governments, or both more likely, as they did a decade ago,” Qinwei Wang, China economist at Capital Economics Ltd. in London, said in an e-mail response yesterday to questions from Bloomberg News.
“Many of those loans will not be repaid and ultimately it is the central government that will probably have to bail out either the banks or local governments, or both more likely, as they did a decade ago,” Qinwei Wang, China economist at Capital Economics Ltd. in London, said in an e-mail response yesterday to questions from Bloomberg News.
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