The local governments may break Beijing's rules, but Beijing is serious about reform. An editorial in today's Beijing Times explains why economic growth will be slower. This is the first time I've seen an article like this in a general audience newspaper. Economic papers have written these stories, but it's not often we see it discussed outside of the financial realm. It comes a few weeks ahead of the National People's Congress, when power will officially transition to Xi Jinping and Li Keqiang. The editorial covers growing debt burdens for local governments, bubbles and the need to turn away from double digit growth targets.
经济军令状勿成盲目增长护身符
Mike Johnson Goes Full Neocon, Nikki Haley May as Well Be House Speaker
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In a speech that Nikki Haley would endorse 100 percent, Speaker Mike
Johnson begs the House to approve more aid to Ukraine and Israel to the
tune of $95 bi...
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