(Bloomberg) -- Chinese authorities have rejected a proposal made by the International Monetary Fund to use central government funds to complete unfinished housing, dealing a blow to hopes for more forceful support to an industry that’s been a major drag on the economy. Most Read from BloombergSinger Akon’s Multibillion-Dollar Futuristic City in Africa Gets Final NoticeValencia Follows Barcelona in Crackdown on Short-Term RentalsUber and Lyft Strike NYC Deal to Scale Back Driver LockoutsWhat a Be

“It would be inappropriate for the central government to directly provide fiscal support, as it could lead to expectation of future government bail-out and therefore moral hazards,” Zhang said.

Ouch, no handouts for the financial bros…😂

  • تحريرها كلها ممكن@lemmy.ml
    12·
    5 months ago

    Glorious. This is the difference between a dictatorship of the bourgeoisie and a dictatorship of the proletariat.

    This story alone proves China is not your typical capitalist state despite the insistence of ultras.