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In the West, if a city faces financial difficulties, it'll go bankrupt. But in China, cities will be subsidised by the Ministry of Finance. So some small- and medium-sized cities aren't worried about going bankrupt. They figure the central government will help them out.
Wang Shi
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"In the West, if a city faces financial difficulties, it'll go bankrupt. But in China, cities will be subsidised by the Ministry of Finance. So some small- and medium-sized cities aren't worried about going bankrupt. They figure the central government will help them out."
— Wang Shi #moneywealth #politicsgovernment

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In the West, if a city faces financial difficulties, it'll go bankrupt. But in China, cities w…

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In the West, if a city faces financial difficulties, it'll go bankrupt. But in China, cities will be subsidised by the Ministry of Finance. So some small- and medium-sized cities aren't worried about going bankrupt. They figure the central government will help them out. — Wang Shi

About Wang Shi

Wang Shi was a Businessman from People's Republic of China (1990–present).

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Frequently Asked Questions

Who said "In the West, if a city faces financial difficulties, it'll go bankrupt. But in…"?
This quote is attributed to Wang Shi, a Businessman from People's Republic of China.
When did Wang Shi live?
Wang Shi lived from 1990 – present.
What is this quote about?
This quote touches on Money & Wealth, Politics & Government. Browse more quotes on these themes from the categories page.