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Chinese rust belt city falls victim to squeeze on local government spending

Summary:
[unable to retrieve full-text content]The economic slowdown in what was once China’s industrial heartland and a squeeze on local government debt has claimed its latest victim after a former coal-mining city in the northeast was forced to freeze its hiring process.Hegang, once a coal-rich city in northern Heilongjiang, has been battling an economic slowdown and dwindling population in recent years, problems that have, in turn, hit government revenues.China’s ‘corruption problem’ at local levels poses political, economic risksThe…

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[unable to retrieve full-text content]
The economic slowdown in what was once China’s industrial heartland and a squeeze on local government debt has claimed its latest victim after a former coal-mining city in the northeast was forced to freeze its hiring process.Hegang, once a coal-rich city in northern Heilongjiang, has been battling an economic slowdown and dwindling population in recent years, problems that have, in turn, hit government revenues.China’s ‘corruption problem’ at local levels poses political, economic risksThe…

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