“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
Related posts:
California Good Samaritan Drug Overdose Bill Signed Into Law
Not a Peep from Obama: Violent Crime Now at a 42-Year Low
Utah Bill Would Enable Post-Arrest Collection Of DNA Samples
JPMorgan Report Slams Bitcoin as ‘Vastly Inferior’ to Fiat Currency
As Bitcoin became popular, these countries became suspicious
Russia’s Anti-Bitcoin Stance May Be Softening, Reports Say
Bitcoin offers privacy—as long as you don't cash out or spend it
Does Facebook Help the Prosecution, But Not Defense?
Fantasy Land Financial Analysis for Investors
Ohio Attorney General rejects ballot measure to legalize marijuana
Leaked Documents: U.S. Framed Syria in Chemical Weapons Attack
Brazilian Firm Unveils First Bitcoin ATM in South America
5 GMO Myths Busted
Syracuse’s ‘most prolific sex offender’ lied to acquire government job
Helmut Kohl: 'I acted like a dictator to bring in the euro'