@nytimes reporter covering China and Asia, but mostly China. Got a tip? alexandra.stevenson@nytimes.com GPG
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Which is why for a brief moment earlier this year, Ruzhou appeared to go to its nurses and doctors for money. But when I traveled there with @caocli this summer, we didn’t know any of this. We were just hunting for white elephants
But we left with a police escort. More on that here: https://nyti.ms/2X06qCx But back China’s debt problems. Ruzhou is just one of many cities and towns that appear to be running out of money
Here’s why it matters: “Imagine the economy is a ship like the Titanic,” one analyst told us. “Local government debts are like cargo containers piled up on its deck. There are already lots of cargo containers piling up.” Read more herehttps://nyti.ms/2p7jkCb
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