On paper, China’s fiscal woes don’t look anywhere near the problems that have bedeviled other governments: Official data show its debt and deficit as a share of gross domestic product are well below that of the U.S., for one.
Indeed, frustrated private-sector economists have long urged China to be less fiscally conservative, saying that increased spending or lower taxes is necessary to shift its economy more toward domestic demand, something China must do to sustain growth.
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Liyan Qi and Aaron Back, Wall Street Journal via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/krhOMViIEm8/
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