“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…😂

  • Absolute@lemmygrad.ml
    0·
    3 months ago

    what I’m reading here is that foreign capital is throwing a tantrum cause Chinese gov is gonna let them lose money on shit investments because they prefer houses being used for their intended purpose rather than asset vehicles for wealth accumulation

    sucks to fucking suck doesnt it

    • o_d [he/him]@lemmygrad.mlEnglish
      0·
      3 months ago

      It’s actually quite hilarious. The CPC has made a fool out of these imperialist scum. They thought that they could infiltrate and overturn Chinese socialism. But socialist development is superior to capitalist development in every way. Even with market mechanisms in place. And a strong socialist state has prevented capital from taking power. Now all the imperialists can do is screech about China’s “inevitable” collapse.