Moody's raises red flag over China's public finances

Concerned about China's policy flip-flops, sputtering manufacturing sector, or swooning equity market? Add to that another source of worries: The patchy state of regional finances. Moody's Investors Service notes that China's regional and local government (RLG) debt pile grew by more than one-third between June 2013 and end-2014, citing official data. In the 18 months between June 2013 and ...