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3,3
I think the last sentence is a good conclusion of this report. Although the problem of china's public finance is becoming serious, it still under control. Those bad loans will just make the authorities suffer a short time which is as long as the time used to control the critics. So it may make the balance sheet of the local government looks not as well as it before, it definitely won't lead them to break down. And the system is totally different with some western countries. It dose need to raise our attention, however, in my opinion, it won't cause massive crisis.
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