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Panelists Discuss the Causes and Consequences of China’s Local Governments Reneging on Debts

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Panelists Discuss the Causes and Consequences of China’s Local Governments Reneging on Debts
This photo taken on Jan. 7, 2023 shows elderly people sitting in front of a house in a rural area in Tai'an, China's eastern Shandong province. NOEL CELIS/AFP via Getty Images
Pinnacle View Team
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News Analysis

With the deterioration of China’s economy, some local governments simply refuse to pay back all the money they borrowed in the past, because the banks can’t do anything about it anyway.

Pinnacle View Team
Pinnacle View Team
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“Pinnacle View,” a joint venture by NTD and The Epoch Times, is a TV forum centered around China. The program gathers experts from around the globe to dissect pressing issues, analyze trends, and offer profound insights into societal affairs and historical truths.