China may have to bail out one of its poorest provinces - And more provinces may follow. “China's local governments are struggling with trillions of dollars of debt, after three years of strict pandemic controls and a real estate crash drained their coffers. Some cities have already slashed medical benefits to seniors, sparking protests, and other vital services are at risk.” Global economic planners need to factor the possibility of a massive #China default into their global outlook predictions. If the USA slips into recession, as widely predicted, and then China defaults the risk of global contagion and international recession increases exponentially. https://www.cnn.com/2023/04/27/economy/china-guizhou-province-debt-crisis-bailout-intl-hnk/index.html #economics #finance #globaltrade #commerce #ChineseDebt #ChineseDefault