“It would be inappropriate for the central government to directly provide fiscal support, as it could lead to expectation of future government bail-out and therefore moral hazards,” Zhang said.
Ouch, no handouts for the financial bros…😂
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😂
This was long-ago settled. You pays your money and you takes your chances, capitalists. Suck it up.
- 2017: China’s Xi says to maintain principle property is not for speculation China will maintain the principle that houses are for people to live in, not for speculation […]
- 2024: China’s housing minister says real estate developers must go bankrupt if necessary
Glorious. This is the difference between a dictatorship of the bourgeoisie and a dictatorship of the proletariat.
This story alone proves China is not your typical capitalist state despite the insistence of ultras.
Why is the IMF getting involved? It is none of its business.
IMF: “Isn’t there someone you forgot to ask?”
