China’s Financial Woes Jeopardize CCP’s Rule: Economist

Skyscrapers are seen in Beijing's central business district on Jan. 18, 2019. Greg Baker/AFP via Getty Images

News Analysis

China’s Ministry of Finance released financial income and expenditure figures for the first half of 2024, showing a significant year-over-year decline in fiscal revenues and several major tax collections. An economist has identified this as an indicator of an impending financial crisis that plagues the Chinese Communist Party (CCP) authorities at all levels.