A prominent Chinese economist says， “China’s local economies are finished．”

I had missed it, but on June 10, 2024, Guan Qingyou, a well-known Chinese economist, posted the following on Weibo (it has now been deleted and can no longer be viewed): First, let me introduce Guan Qingyou. He is a prominent Chinese economist, particularly known for his incisive analysis of the Chinese economy. He originally served as vice president of Minsheng Securities, and currently provides economic commentary and commentary to various Chinese media and academic institutions. What’s interesting is that Guan Qingyou sometimes speaks frankly about the challenges and risks facing the Chinese economy. This post can also be seen as one of Guan Qingyou’s frank statements. The “core finances” mentioned in the statement refers to the finances of local governments. Specifically, it refers to the financial situation of China’s local governments, especially basic administrative units at the county and municipal levels. Local governments manage the provision of public services, infrastructure development, and spending on education and health, but when they lack the financial resources to support these, they find themselves in financial difficulty. In his post, Guan Qingyou states that “the basic finances are almost in a state of collapse,” warning that the local government’s finances are in an extremely severe situation. It’s “almost collapsed,” so to put it simply, it’s “the end.” (Yoshida Hunting @dcp).

中国の地方経済はもう「おしまい」

見逃していたのですが、中国で著名な経済学者である管清友（かんせいゆう、GuanQingyou）さんが2024年06月10日、Weibo（微博）に以下のような投稿を行っていました（現在は削除されており閲覧できません）。「基層財政がほぼ崩壊状態

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