The hidden debt of China’s local governments, which is held by entities called Local Government Financing Vehicles (LGFVs), has rattled financial markets. Now some worry that it could threaten the entire economy. While there is no official data, one estimate of LGFVs debt puts it at 59 trillion yuan (US$8.25 trillion) at the end of 2022. The International Monetary Fund estimates that the total might be even higher, more than 70 trillion yuan (US$9.79 trillion). To put these numbers in perspect...
In Nanjing in 1946, the government of the Republic of China (ROC), in the midst of a civil war, decided to delineate the territory of the Republic so that it co... more
As dusk cast dark shadows along the narrow alleyways of Guangzhou’s garment district in the southeast corner of the city, Mrs. Wong packaged the last of the f... more
Under what conditions does China terminate politically motivated barriers to trade? In August 2023, China announced it would remove tariffs on Australian barle... more
According to World Bank data, only a handful of economies have risen from middle-to high-income status since 1960, when economic catch-up growth in many develop... more