In the West, if a city faces financial difficulties, it’ll go bankrupt. But in China, cities will be subsidised by the Ministry of Finance. So some small- and medium-sized cities aren’t worried about going bankrupt. They figure the central government will help them out. — Wang Shi
Tags: #Government, #City, #Small, #WangShi, #Chinese, #Businessman
Mini who’s who:
Wang Shi : Chinese Businessman
Born: 1951