Debt-laden local government financing vehicles face soaring bond yields

  • InvertedParallax@lemm.ee
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    1 year ago

    So, personal story:

    I was at their biggest glory internet company almost a decade ago, they had a brand new huge campus that sprawled over acres, and in hindsight its clear they just tried to copy Google.

    Roof constantly leaked (buckets everywhere), holes in the floor of all things, walls crumbling. They’d moved in 1-2 years earlier and it was considered a point of Chinese national pride. No a/c either, which was brutal in the summers.

    They need to stop building before more people get hurt.

      • InvertedParallax@lemm.ee
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        1 year ago

        This same building had literally millions of dollars of servers lying around the floors, the whole thing was surreal.