China local government debt "out of control"
April 17th, 2013
China’s local governments are “out of control,” an official from the Chinese accounting association has said amid debt concerns raised by international institutions and rating agencies. Zhang Ke, head of top Chinese accounting firm ShineWing, said his firm had mostly stopped signing off local government bond issues and warned that China’s debt could spark a …
Japan to cut reliance on bond sales
January 28th, 2013
Japan plans to cut its reliance on government bonds, Prime Minister Shinzo Abe said Monday in a policy speech ahead of a budget that will raise more money through taxes than bond sales. Abe pledged he would not keep stimulus spending “forever” as the Liberal Democratic party unveiled its draft budget aimed at overhauling the …