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China’s fiscal risks ‘extremely severe’, former finance minister warns ahead of key meetings

Summary:
[unable to retrieve full-text content]China’s fiscal situation is “extremely severe with risks and challenges”, former finance minister Lou Jiwei has warned, citing fallout from aggressive US stimulus policies, the global economic slowdown during the pandemic, an ageing Chinese population and mounting domestic local government debt.Lou offered his sharp critique in December but the assessment has only been made public more recently, with just days to go now before China’s political elites meet for their annual legislative session…

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[unable to retrieve full-text content]
China’s fiscal situation is “extremely severe with risks and challenges”, former finance minister Lou Jiwei has warned, citing fallout from aggressive US stimulus policies, the global economic slowdown during the pandemic, an ageing Chinese population and mounting domestic local government debt.Lou offered his sharp critique in December but the assessment has only been made public more recently, with just days to go now before China’s political elites meet for their annual legislative session…

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