How China Fell Into Land
25:38–27:35 · 117s
Mike Bird explains the 1994 fiscal overhaul that starved local governments of revenue and pushed them into off-balance-sheet land sales—the origin of China’s "land trap."
25:38–27:35 · 117s
Mike Bird explains the 1994 fiscal overhaul that starved local governments of revenue and pushed them into off-balance-sheet land sales—the origin of China’s "land trap."
We use cookies to understand how you use our platform and to improve your experience. Click "Accept All" to consent, or "Decline non-essential" to opt out of non-essential cookies. Read our Privacy Policy.