China's Debt Crisis Became the Reason of its Economic Downfall

03/12/2024 Indian media Firstpost: China's local governments face a mountain of debt.
According to a report released by Goldman Sachs, they owe a whopping $13 trillion in debt. Officials from debt-ridden Chinese provinces were in Beijing last week for a crisis meeting. They wanted their debt payments renegotiated and their loans to be restructured and refinanced. Though Beijing is taking steps to prevent the default happening, these efforts are adding to the stress on the Chinese economy.
03/12/2024 印度媒体《第一邮报》：中共地方政府债台高筑。高盛的一份报告称，这些债务高达13万亿美元。上周，来自负债严重省份的官员们在北京参加了一系列危机会议。他们希望重新协商债务偿还事宜，并希望重组其债务和再融资。尽管北京正采取措施防止违约情况发生，但是这些举措正加重中共国经济的负担。