(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…😂

  • redtea
    33·
    1 month ago

    The IMF will give advice whether you ask for it or not. Then all you have to do is the exact opposite and you’ll likely be voted in forever with high public support.

    Edit: I see @REEEEvolution@lemmygrad.ml got there before me lol