The Chinese government is taking steps to rein in what it calls “involution,” or excessive competition that is hurting local companies and fueling the country’s deflationary spiral.
Category: Hebei Province (China)
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Anger in China Over Flooding of Towns, in Part, to Save Beijing
A provincial leader set off an outcry by urging cities to serve as a “moat” for the capital, as diverted floodwaters sent scores of residents fleeing.
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China’s Cities Are Buried in Debt, but They Keep Shoveling It On
China has long pursued growth by public spending, even after the payoff has faded. Cities stuck with the bill are still spending — and cutting essential services.
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Natural Gas Shortages Hit China as Temperatures Plunge
Local governments starved for cash after enormous spending on costly “zero Covid” measures cannot afford to keep up adequate supplies of gas.