(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…😂

  • lil_tank
    33·
    1 month ago

    When you know that capitalism can only be maintained by injecting massive amounts directly into big companies and banks, paradoxically applying the “econ 101” logic of “if a company fails, they weren’t good enough” is the anti-capitalist move. China is letting the private sector reach its inevitable end.