“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…😂
“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…😂
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.