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GrainEater@lemmygrad.ml

106

China Rejects $1 Trillion Housing Rescue Plan Pitched by IMF (finance.yahoo.com)

submitted 3 months ago by yogthos@lemmygrad.ml to c/china@lemmygrad.ml

26 comments fedilink hide all child comments

“It would be inappropriate for the central government to directly provide fiscal support, as it could lead to expectation of future government bail-out and therefore moral hazards,” Zhang said.

Ouch, no handouts for the financial bros...😂

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[–] lil_tank@lemmygrad.ml 33 points 3 months ago

When you know that capitalism can only be maintained by injecting massive amounts directly into big companies and banks, paradoxically applying the "econ 101" logic of "if a company fails, they weren't good enough" is the anti-capitalist move. China is letting the private sector reach its inevitable end.