As Chinese leaders push forward a new stimulus plan, heavily indebted governments across the country are still feeling the effects of a crisis that threaten to stand in the way of an economic recovery.
The former governor of China’s central bank says the West’s debt-trap claims, along with the pandemic, have affected Chinese investment in countries under the Belt and Road Initiative.
Amid worrisome takes on China’s post-Covid recovery, Beijing should release trade and inflation data later this week, while figures on unemployment, investment, industrial output and retail sales are due June 15.
Concerns about city and county government default risks are mounting in China as Beijing’s willingness to offer enough support to avert a meltdown is questioned.