Video Summary As of 2023, China’s local governments have accumulated a staggering $9 trillion debt, equivalent to more than half of the country’s GDP. This massive debt was built up over the past 30 years, primarily through local government financing vehicles (LGFVs), which were established in 1994 to empower local authorities to raise debt and […]
Video Summary China’s economy, despite initial reports of a strong start to the year, is actually facing significant challenges. The 5.3% GDP growth in the first quarter of 2024 may look promising at first glance, but there are worrying signs beneath the surface. One of the main drivers of this growth was government support for […]
Video Summary China’s property sector has been struggling, with a significant impact on the country’s overall economy. The sector, which accounts for 25% of China’s GDP, has been in a downward spiral since 2018. The problem is not just a matter of a lack of confidence among buyers, but also a massive overhang of unsold […]