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

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 Meet for Third Day on US Debt

Negotiations between President Barack Obama and Republican lawmakers appear deadlocked, with Republican leaders sharply criticizing Mr. Obama's approach in talks about slashing U.S. budget deficits and raising the government's borrowing limit. The pr

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

Obama calls for debt reduction in balanced manner

Obama calls for debt reduction in balanced manner WASHINGTON, Nov. 9 (Xinhua) -- The United States should cut its mounting public debt in a balanced manner with a plan including both government spending cuts and revenue increases, U.S. President Bara

Greek Debt Crisis Still Unresolved

European finance officials are still grappling with the Greek debt crisis after returning home from inconclusive talks at the International Monetary Fund in Washington over the weekend. The United States and other nations are pressing European leader

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

New Eurozone Focus: Spain's Debt, Economy

The debt-ridden Spanish government and the country's troubled economy are the newest face of the European debt crisis. Stock markets across Asia, Europe and the United States plunged on Monday on fears that Madrid will need an international bailout a

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

US Treasury Secretary Defends Debt Deal

After months of partisan gridlock, both houses of the U.S. Congress have approved a bill to raise the federal borrowing limit and cut government spending. Tuesdays 74 - 26 Senate vote came one day after the bill passed in the House of Representatives

Greece Nears Debt Write-Off Goal

Greece is nearing its goal of getting the country's private lenders to eliminate $142 billion of the country's debt to help it avoid a default on its financial obligations later this month. A government official told news agencies Thursday in Athens

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 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