(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…😂

  • Absolute
    10·
    1 month ago

    what I’m reading here is that foreign capital is throwing a tantrum cause Chinese gov is gonna let them lose money on shit investments because they prefer houses being used for their intended purpose rather than asset vehicles for wealth accumulation

    sucks to fucking suck doesnt it

    • o_d [he/him]English
      8·
      1 month ago

      It’s actually quite hilarious. The CPC has made a fool out of these imperialist scum. They thought that they could infiltrate and overturn Chinese socialism. But socialist development is superior to capitalist development in every way. Even with market mechanisms in place. And a strong socialist state has prevented capital from taking power. Now all the imperialists can do is screech about China’s “inevitable” collapse.