What Does US Local Debt Teach Rest of Us?

A new study in the United States is suggesting state governments are carrying both total and future liabilities in the range of between 1 to 4 trillion US dollars. The Harvard Institute of Government report suggets the debt at the state level is a re

2015年CRI China to Do More About People's Livelihoods: Report

On the heels of a report issued to the National People's Congress this past week, the Chinese Academy of Social Sciences is out with its own analysis of China's local debt situation. In it, CASS economist Li Yang argues there is no concern about a lo

China Allows Two More Local Gov'ts to Issue Bonds

China's State Council has approved the trial of an expanded bond selling program which includes two more local governments. Ministry of Finance says local governments in Shandong and Jiangsu will now be allowed to sell bonds directly. CRI's Xie Zhao

中国出重拳预防地方债务风险

Following rising concern over local government debt, China floated a four-grade emergency plan last Monday that could mean fiscal re-balancing. 随着地方政府性债务引发的担忧日益加剧，我国于上周一推出四级应急预案，这可

经济学人82:中国公债,勇敢面对

Chinese public debt 中国公债 Coming clean 快要清零了 China faces up to the hidden debts of itslocal governments 中国勇敢面对地方政府的隐藏债务 BANKS in Westerncountries dragged their economies into the great recession. Banks i

Obama, Lawmakers Hold Round Four of Debt Talks

President Barack Obama along with several Republican and Democratic congressional leaders held a fourth round of negotiations in as many days Wednesday at the White House aimed at achieving a deficit reduction and debt compromise. With media reports

Obama: Lawmakers Need to Do Right Thing on Debt

President Barack Obama says congressional leaders from both political parties need to do the right thing and work with him to achieve the largest possible compromise to cut deficit spending and raise the national debt limit. Mr. Obama used a news con

Obama Enters Talks on US Debt, Spending Cuts

With a little more than a month until a deadline to raise the nation's debt limit, President Barack Obama met on Monday with the top U.S. Senate Democratic and Republican leaders to try to narrow differences in long-running talks on reducing governme

中国财政部长:不关心评级

Lou Jiwei made the remarks Friday in Washington in the wake of the recent downgrading of China's outlook by two U.S. credit rating agencies. He says the outlook fails to reflect the real picture of the Chinese economy. We have just published the data

Government Debt Could Stifle Economic Recovery

The head of the International Monetary Fund says economic recovery is still possible, but it is getting harder. In Washington, IMF Managing Director Christine Lagarde said Thursday that troubled economies have fewer resources now than at the start of

中国银行业将为煤企钢企债务重组买单

Chinas banks are set to be the biggest losers in the sweeping bailouts of the countrys steel and coal industries. 中国的银行将成为对国内钢铁、煤炭行业全面纾困的最大牺牲品。 Local governments hoping to save their steel mil

Local governments' spending sprees create concern

BEIJING, Aug. 7 (Xinhua) -- A new wave of massive spending plans rolled out in recent months by local governments to boost the flagging economy has sparked concerns over wasteful investments and potential local government debt risks. Changsha, capita

China prioritizes systematic financial risk control

BEIJING, Feb. 20 (Xinhua) -- China's banking industry regulator said Monday that preventing systematic financial risks has become a top priority as the global financial crisis enters a more complicated phase. The country will work to defuse local gov

2017年CRI Risk of gov't debt controllable in China: expert

China's National Audit Office has released a new report on how budgets across China last year were managed. The report is suggesting the overall risk in China's local government debt remains controllable. To find and solve problems, the National Audi

Greece, Spain Face New Debt Pressures

Greece and Spain faced new pressure Tuesday from the European debt crisis. The European Union bluntly told the Athens government it would not receive its next $11 billion installment from last year's bailout unless its fractious political leaders sig

US Congressional Vote on Debt Issue Delayed

The White House says it remains confident that congressional leaders can come together and work out a way to raise the U.S. debt ceiling before an August 2 deadline. A top aide to President Obama spoke as Republicans controlling the House of Represen

US Debt Deal Compromise Leaves Many Unhappy

The U.S. House of Representatives has approved a compromise deal to raise the country's debt limit and cutting spending, one day before the government is due to start defaulting on its debt. In a vote Monday night, 269 House members approved the deal

US Debt Drama Engulfs Both Houses of Congress

The U.S. House of Representatives is expected to vote Thursday on a Republican plan to trim government spending and raise the federal borrowing limit. The vote comes days before a deadline to avert a possible default on U.S. debt obligations that Pre

China to boost local gov't debt clean-up

BEIJING, March 1 (Xinhua) -- China will boost the clean-up of thousands of millions of local government's debt in 2012, so to guard against possible defaults that would hurt its banks, the country's banking regulator said Thursday. The country will f

Obama: Euro Debt Deal Is 'Progress'

President Barack Obama says there is no doubt that the European Unions agreement to slash Greeces debt and enlarge a bailout fund is progress. The president says strong execution of the plan is essential. After meeting Thursday with the Czech Republi