Risk Watch: China’s Local Debt ‘Iceberg’ Emits ‘Cracking Sounds’

Caijing Magazine’s 16th issue of 2018 (published on July 9) featured a cover page with a man hauling a piggy bank atop a cracking iceberg. The headline read: “The Worries of Local Debt Hanging High Overhead.” The cover page article likened China’s local government implicit debt to an iceberg, with a small portion publicly visible …

Read moreRisk Watch: China’s Local Debt ‘Iceberg’ Emits ‘Cracking Sounds’