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China lawmaker Yin Zhongqing claims local governments have racked up $1.5T in hidden debt, much...

China lawmaker Yin Zhongqing claims local governments have racked up $1.5T in hidden debt, much of which "simply cannot be paid back ...(they) did not plan to pay it back." Yin expects the issue to become clear as the economy slows. Sounds like American municipal and mortgage finance.
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