“A senior Chinese official said on Friday that the government did not know precisely know how much debt local governments had built up and warned that it could be more than previous estimates. Estimates of local government debt range from Standard Chartered’s 15 percent of the country’s GDP at end-2012 to Credit Suisse’s 36 percent. Fitch put the figure at 25 percent when it downgraded China’s sovereign debt rating in April. Vice Finance Minister Zhu Guangyao said China had not released official figures since a 2010 auditing report that put local government debt at 10.7 trillion yuan.”
http://www.thedailybell.com/29352/Now-They-Tell-Us-China-Debt-Levels-Unknown
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Oklahoma Woman Seeks Medical Treatment, Is Jailed Instead, Dies
Bitcoin gets ready for the government
Bitcoin Documentary: Bankers' Worst Fear
Centuries-Old Shipwreck Chock-Full Of Gold Found Off Finnish Coast
New law permits cop drones to fire beanbag rounds from the sky
Living on Bitcoin is a real challenge for newlywed couple
U.S. Removed Mubarak Over Refusal To Allow Permanent Military, Spy Installations?
Janet Yellen: Fed Has No Authority To Regulate Bitcoin
10 More Crazy Conspiracy Theories That Became Conspiracy Facts
IRS: 330K Taxpayers Hit by ‘Get Transcript’ Scam
Dzhokhar Tsarnaev is American
Most Secure Bitcoin Wallet Armory Raises $600k Led by Trace Mayer
Pittsburgh police relations meeting ends with white officer arresting black teacher
10,000 Linux servers hit by malware serving spam and exploits
"We're building a domestic army": Marine Corps Colonel speaks out