How China’s local government financing vehicles (LGFVs) became China’s most complex economic challenge.
Recent Items
Sunday, January 18, 2026
China’s Local Government Financing Vehicles (LGFVs): Ponzi Finance on Steroids
Topics: Banking industry, China, Credit markets, Dubious statistics, Economic fundamentals, Infrastructure, Investment management, Politics, Real estate
Posted by Yves Smith at 11:48 am | 29 Comments »
Links 4/5/2024
Topics: Links
Posted by Lambert Strether at 6:55 am | 214 Comments »
Is Justice Finally Catching Up to Ursula von der Leyen?
Prosecutors “could theoretically seize phones and other relevant material from Commission offices or in other European countries,” which would not be a good look for her reelection campaign.
Topics: Brexit
Posted by Nick Corbishley at 6:45 am | 15 Comments »
Ukraine Plan of Crocus City Hall Attack to Start Ethnic Pogroms, Civil War in Russia
An in-depth discussion of the apparent Ukraine/Western plan to use the Crocus City Hall massacre to stoke ethnic hostilities in Russia.
Topics: Guest Post, Media watch, Politics, Russia, Social policy, Social values
Posted by Yves Smith at 6:01 am | 46 Comments »
Climate Engineering Carries Serious National Security Risks − Countries Facing Extreme Heat May Try It Anyway, and the World Needs to be Prepared
Like it or not, climate engineering is coming. What are some of the implications?
Topics: Doomsday scenarios, Environment, Global warming, Globalization, Guest Post, Politics, Risk and risk management, Technology and innovation
Posted by Yves Smith at 4:45 am | 26 Comments »
2:00PM Water Cooler 4/4/2024
~ Today’s Water Cooler: Politics, and politics, Kennedy and ballot access, Shanahan’s money, integers, walking ~
Topics: Water Cooler
Posted by Lambert Strether at 2:00 pm | 61 Comments »
“On a Relative Scale, There’s a Strong Case that Financialization Is Worse in the PRC than the US”
On a relative basis, China is more financialized than the US which is not a pretty picture.
Topics: Banking industry, China, Credit markets, Economic fundamentals, Income disparity, Politics, Real estate
Posted by Yves Smith at 10:36 am | 29 Comments »
Links 4/4/2024
Topics: Guest Post, Links
Posted by Lambert Strether at 6:58 am | 235 Comments »
The Energy Transition: Technology Versus Political Backlash
A look at some of the reasons why the energy transition is running behind schedule.
Topics: Auto industry, Doomsday scenarios, Economic fundamentals, Energy markets, Free markets and their discontents, Global warming, Guest Post, Politics, Regulations and regulators, Technology and innovation
Posted by Yves Smith at 6:54 am | 44 Comments »
A World Without Insurance: A Climate-Future Look at Property Values
Home insurance will become catastrophically expensive and may even vanish in some parts of the US. What happens then?
Topics: Economic fundamentals, Environment, Global warming, Guest Post, Regulations and regulators
Posted by Yves Smith at 2:14 am | 55 Comments »
Paris Wants to Show Strength, but Faces Geopolitical Crisis in Africa
A status report on France losing its hold in Africa.
Topics: Africa, Currencies, Europe, Globalization, Guest Post, Politics
Posted by Yves Smith at 12:35 am | 18 Comments »
2:00PM Water Cooler 4/3/2024
~ Today’s Water Cooler: Politics, pandemics, Shanahan’s first marriage, Robert Frost, matter ~
Topics: Guest Post, Water Cooler
Posted by Lambert Strether at 2:00 pm | 111 Comments »
Yellen Trip to China: Biden Administration Presumption and Cluelessness on Display
The US is at it again with China, despite acting like it wants to repair fractured relations.
Topics: China, Economic fundamentals, Energy markets, Environment, Free markets and their discontents, Global warming, Globalization, Politics, Technology and innovation
Posted by Yves Smith at 10:34 am | 52 Comments »
Links 4/3/2024
Topics: Links
Posted by Yves Smith at 6:59 am | 196 Comments »
China Prepares in Central Asia to Withstand Any Western Isolation Efforts
Beijing is strengthening land supply chains in case the West tries to disrupt its seaborne commerce.
Topics: China, Doomsday scenarios, Energy markets, Russia
Posted by Conor Gallagher at 6:00 am | 19 Comments »



