China’s debt problem: Xu Zhong, the head of the People’s Bank of China Research Bureau, says government debt may have exceeded the 60% warning line, reports Asia Times’ China Digest. China keeps increasing its leverage by using project funds, public-private partnerships, trusts and other financial tools, with Xu stressing that strengthening corporate governance was the solution. READ THE STORY HERE
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KEYNES VS. HAYEK RAP
KEYNES VS. HAYEK RAP ROUND 2