20110723 Follow Me 74 whachel1976

15# bengdi1986
We can not deny that, without the Check and Blanace System in China, Agency Problem and Moral Hazard in local government is so difficult to be managed. Imagin this, local govt knows that central govt would help them when they are in trouble, it is pointless for local govt to responsibly control its budget. As far as I am concerned, the economic health of a region should be included in the performance assessment of local governor, rather than the simple GDP.

What is your opinion?

74，74
China's debt ratio remains at a manageable level .

地方不怕，有国家在做后台，国家也不怕，有人民做后台。。

"Of this, the debt the government bears responsibility for repaying is only 5.88 trillion yuan"
其实，这句话我没看懂。是说，到期债务是5.88 trillion yuan，还是说，其它的由中央ZF负责偿还，或者，干脆作为补贴给地方ZF了？不明白。

I believe that the local govt's appraisal should be comprehensive. Especially we shoule consider the aspects as follows: the people's the qualities of life and welfares, whether the local economies are sustained, the local governers' attitude to their work and the people,and so on.
      Local govt ,as an agent of the central govt, is simlar to a middle manager.It is a fact that the agency problem and the moral hazard in local govt is too difficult to be managed.How to make the incentive and restraint mechanisms , that should be take seriously.
      In my opinion,individual concept and attitude is the key problem.His action is decided by by the values of their lives,world view and his ideal.Though we have thousands of traditional cultures, they were distorted with the passage of time. I think we should construct a new core value which is not only heritage the tradition but also updated with the changing world. 21# maiwenzhen

Follow Me:71, 35
地方债最后的结果估计都是银行来背了。银行的坏账最后也会由老百姓来买单。以前就是这样，以后也会这样。

59、59
oh。 local gorvenment debts . as i know  some debts  have  their  reason . in  order  to develop the local economy   the local gorvenments   will borrow money for  the companies .
however local gorvenments  have supports from central ZF and there are state-owned banks so maybe  the loans don't matter much .

74,74

It is the central government that supports enormous debts, the regional departments can have nothing to fear