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Reality bites
Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?
November 2007
by Louise Bowman
Authors Badenoch & Clark helpfully point out that this represents 45% of the total workforce and add that 34% of these are often stressed, while 11% are always stressed.
Closer examination of the figures is slightly...
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