From Asia Times, November 1:
Two top Chinese economists make the surprise admission that China has 9 million poor people and a high debt-to-GDP ratio
The Chinese government is said to be considering issuance in the next five years of 4 trillion yuan (US$561 billion) in special treasury bonds in order to fund the purchase of unsold homes and idle sites in an effort to reduce inventory in the markets and support property prices.
The issuance of these bonds will come on top of the previously-reported issuance of 6 trillion yuan in ultra-long special treasury bonds, which will be implemented over the next three years, Reuters reported.
It is expected that these long-term money printing schemes will be discussed in the coming standing of the National People’s Congress (NPC) Standing Committee between November 4 and 8.
The meeting was originally scheduled for late October but it was postponed to November with some media reports saying that Beijing wants to make its final decision after the United States presidential election.
In case the election’s winner is Republican candidate Donald Trump, who vowed to impose a 60% tariff on all Chinese goods, China may need a stronger stimulus package to maintain its economic growth for the next few years, Reuters reported, citing two unnamed sources....
....MUCH MORE
People in positions of authority are being allowed to say things that would have been inconceivable in 2016.
Something has changed in the thinking of the highest levels of the government and the Party, right up to paramount leader Xi.
Here's another example at Bloomberg via MSN: "Xi Highlights Employment Woes in Speech Published Before US Vote"
