government would input 1.2 trillion

in 2009, then Prime Minister Wen Jiabao launched the “4 trillion yuan” economic stimulus plan. Specifically, the government would input 1.2 trillion yuan into the pool, and local governments would input the rest 2.8 trillion yuan. Nevertheless, if the local governments cannot come up with sufficient funds, the plan would ultimately face the fate of failure, which would damage not only the credibility and prestige of China’s central government, but also China’s economy itself. At the time, China’s economy had indeed reached a point where it had to be saved. From another perspective, the central government is still significantly wary of increasing the debt ceiling of local governments สล็อตเว็บตรง