Damien Ma of MacroPolo on China's economic and political outlook
Sinica Podcast
00:00
Local Governments - Is There a Remedy From Land Sales?
Soewe've alluded a little bit to how this is going to really hurt local governments and their abilities to raise revenues. So i won't give everything way et, but we actually have a hosen and i are working on something where we actually think a remedy from land sales has been exaggerated over the last few years. But one thing they'll have to do for sure is that the have to raise the central fiscal deficit. And they'll prbaby have to raise it to probably at least three % of g d p, which is already pretty big.
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