China just announced an $1.4 trillion plan to rescue its local governments
Chinese leader Xi Jinping
Jenny Chang-Rodriguez/Business Insider
- China has announced a local government debt rescue program days after Trump won the US election.
- Trump has threatened tariffs of 60% on Chinese goods, complicating China's economic gloom.
- China's economy faces multiple issues, including a property crisis and high youth unemployment.
China announced a debt rescue program to the tune of $1.4 trillion to save heavily indebted local governments and boost its economy.
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