China is considering at least 1 trillion yuan ($137 billion) of additional sovereign debt for spending on infrastructure such as water conservancy projects. If the debt is issued, the 2023 budget deficit would rise above the 3% cap set in March.
Country Garden, China’s largest private developer, has warned it will miss a loan payment of $60 million. this would be the first default on overseas debt for Country Garden. They have about about $200bn in liabilities and close to $10bn in dollar-denominated debt. In August, they were late but within the 30-day grace period.
Country Garden said its sales for the first nine months were down 44 per cent on the same period in 2022.
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Proof that the CCP has toxoplasmosis on the brain:
Any “stimulus” that doesn’t take the form of sending it out to all men of military age, evenly, is evidence of toxoplasmosis on the brain of the leadership of that country. This is particularly true of China where the CCP can do whatever it wants without regard to any legal constraints regarding “discrimination”.
Oh, did that go *whooosh*? Ever hear of the demographic collapse that happens “the demographic transition” takes hold of an economy to make women more powerful?
How can people be so stupid?
OK, maybe it isn’t _literal_ toxoplasmosis on the brain, but some sort of brain parasite has to be taking hold of the leadership of countries undergoing demographic collapse — the cause isn’t simply obvious — it is KNOWN.
My government (R&D alike) printed $4.6E12 for covid handouts. This is pinky toe in the kiddy pool level of spending.