“Not a single Chinese financial institution has gone bankrupt ... are China’s financial institutions really so good that not even a single one has gone bust?” Xu asked in a speech at Peking University. “The real problem is that some authorities and local governments don’t want to open the jar.”
...“When we tried to tackle a few risky places, everyone involved was scared” and began to ask questions such as “is my economy not good” or “is my regulation too lax”, Xu said. “Since small risks are not allowed to be addressed, moral hazard is created.”
Philly Fed: State Coincident Indexes Increased in 44 States in March
(3-Month Basis)
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From the Philly Fed:
The Federal Reserve Bank of Philadelphia has released the coincident
indexes for the 50 states for March 2024. Over the past three mo...
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