China’s Cities Are Cutting Health Insurance, and People Are Angry

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Keith Bradsher
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Local governments, short on money after three years of “zero Covid” and faced with many more retirees, are raising costs and overhauling benefits.

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Michael Pettis 3mos

Good article. There is a growing recognition that the only sustainable way local governments have to resolve their funding gap must involve the liquidation of local-government assets, although the value of these assets is spread very unevenly.