Zhongtai Securities says Beijing cannot allow local governments to default on their debt as it would risk a regional financial crisis.
Beijing Must Bail out Local Government Debt, Macro-leverage Still Needs to Increase: Zhongtai Securities
Beijing Must Bail out Local Government Debt…
Beijing Must Bail out Local Government Debt, Macro-leverage Still Needs to Increase: Zhongtai Securities
Zhongtai Securities says Beijing cannot allow local governments to default on their debt as it would risk a regional financial crisis.