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Check borrowings by local govts

By Fan Gang | 皇冠体育app Daily | Updated: 2010-06-02 07:48

Imposing a ceiling on local government debt could prevent a Greek-style crisis from erupting on the mainland

While parts of the world are dealing with the aftermath of the financial crisis or an emerging sovereign-debt crisis, 皇冠体育app is coping with the risk of overheating and/or an asset bubble.

Many factors may be pushing 皇冠体育app's economy in this direction. One of the most worrying is the same factor that fueled the current crisis in the Eurozone - mushrooming public debt.

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