recession

Penny pinchers have put even the all-powerful Chinese central government on its back heel

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Penny pinchers have put even the all-powerful Chinese central government on its back heel

China’s local governments, long the engines of infrastructure-driven growth, have turned into reluctant **penny pinchers** amid a crushing debt overload and plummeting revenues from the property slump. This widespread austerity at the provincial and municipal levels is now putting unprecedented pressure on the **all-powerful central government**, forcing Beijing into a delicate balancing act as it … Read more

A Practical Survival Guide to the Recession

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The recession has affected almost every other industry and many people have experienced pay cuts and layoffs – very frustrating for them, as they have been hardworking and conscientious employees. It’s not their fault, but feeling frustrated, anxious or panicked is counter-productive. The natural reaction of these people is to worry about the future. This … Read more