“Chinese authorities have rejected a proposal made by the International Monetary Fund to use central government funds to complete unfinished housing, dealing a blow to hopes for more forceful support to an industry that’s been a major drag on the economy.
That would amount to almost $1 trillion based on last year’s GDP, according to Bloomberg calculations. It’s a solution that China all but ruled out in an official response included in the report.
“It would be inappropriate for the central government to directly provide fiscal support, as it could lead to expectation of future government bail-out and therefore moral hazards,” Zhang said.
Beijing responded to the suggestions by saying the rise of its emerging industries such as electric vehicles are driven by companies’ innovation instead of subsidies, according to Zhang’s statement.”
– – – –
Ouch…no handouts for far right extremists libertarians tech bros…😂….
Innovation instead of subsidies….🤔……
That’s why the far right extremists libertarians tech bros insist that China’s evil…🤭
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“Chinese authorities have rejected a proposal made by the International Monetary Fund to use central government funds to complete unfinished housing, dealing a blow to hopes for more forceful support to an industry that’s been a major drag on the economy.
That would amount to almost $1 trillion based on last year’s GDP, according to Bloomberg calculations. It’s a solution that China all but ruled out in an official response included in the report.
“It would be inappropriate for the central government to directly provide fiscal support,
as it could lead to expectation of future government bail-out and therefore moral hazards,” Zhang said.
Beijing responded to the suggestions by saying the rise of its emerging industries such as electric vehicles are driven by companies’ innovation instead of subsidies, according to Zhang’s statement.”
– – – –
Ouch…no handouts for far right extremists libertarians tech bros…😂….
Innovation instead of subsidies….🤔……
That’s why the far right extremists libertarians tech bros insist that China’s evil…🤭