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0522

Local Corruption

Revising a budget law, as China’s National People’s Congress just did, sure doesn’t sound very sexy. But Sunday’s move is a crucial step toward fixing some of China’s biggest economic challenges: controlling runaway local debt; curbing rampant official corruption, and stemming the spread of socially destabilizing land seizures.
Source An article from Bloomberg Business about China addressing corruption and other econominc problems by revising a budget law.
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