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Article Summary
- Local governments in China are struggling to pay wages due to lack of funds
- Some local governments are delaying or reducing salary payments to employees
- The economic impact of the Covid-19 pandemic has worsened the financial situation for local governments
- China's central government is urging local officials to prioritize wage payments
- There are concerns about social stability and unrest if wage payments continue to be delayed Tone: Concerned and urgent
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China's Local Governments Hold Back Wages In Desperate Scrape For Cash
Beijings recent attempt to address the trillions in hidden debt held by local governments only scratches the surface.
https://www.wsj.com/articles/chinas-local-governme...
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