Here’s an FT.com article that provides an excellent follow up of our post discussing dividends.
Chinese local governments owe $1,650bn in debt, close to 27% of China’s economy. Combined with central government debt and other liabilities such as bad bank loans, analysts estimate China’s overall explicit debt load is about 70% of gross domestic product.
Read more here: Extent of local debts in China laid bare – FT.com.
India is confronted with a debilitating crisis of governance and an overwhelming challenge to improve the lives of the largest concentration of poor people in the world. “Until the number of malnourished children and illiterate women has been reduced by 90 per cent, there should be no horn blowing,” says Jean-Pierre Lehmann, founder of the Evian Group.