Local borrowing casts doubt on China's economic revival

01/14/2013 | Wall Street Journal, The

Renewed borrowing last year by local governments across China is raising fears that the country's reviving growth comes with a flip side of not-fully-reckoned financial risk. After a central government crackdown on such activities in 2011 following $1.7 trillion in borrowing over the previous two years, local governments stepped up their efforts again in 2012, borrowing a total of $102 billion.

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Wall Street Journal, The

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