[kokee]

with china property crashing hard, ton of uncompleted units abandon, demand diminish super fast, almost 80% of china developers will bankrupt soon, china local govt no longer can rely on land sale to sustain their expenses.
local govt debt is a super huge debt, plus all the housing loan default, how many china banks still can survive? bail out? china with negative reserved now, huge crisis coming.



賣地收入斷崖式下跌，地方財政告急，債務窟窿擋不住了怎麼辦？虧空越攢越多，工資還要不要發