Part III of David Daokui Li: local government debt in China driven by central's GDP requirement and prevalent short-term focus
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A 10% increase in debt correlates with a 0.1% reduction in GDP growth, discovered Prof. Li, who advocated for central government intervention and liquidation of local government assets.
Part III of David Daokui Li: local government debt in China driven by central's GDP requirement and prevalent short-term focus
Part III of David Daokui Li: local government…
Part III of David Daokui Li: local government debt in China driven by central's GDP requirement and prevalent short-term focus
A 10% increase in debt correlates with a 0.1% reduction in GDP growth, discovered Prof. Li, who advocated for central government intervention and liquidation of local government assets.