China names new finance minister to replace veteran Lou Jiwei

Nov 7, 2016

China names new finance minister to replace veteran Lou Jiwei

China has replaced veteran reformer Lou Jiwei with a new finance minister who will be tasked with juggling fiscal stimulus and efforts to rein in excess leverage in the world’s second-largest economy. Xiao Jie, previously a senior aide to Premier Li Keqiang, will replace ...

May 10, 2016

Japan's national debt climbs to a dizzying ¥1,049.37 trillion

Central government debt stood at ¥1,049.37 trillion — or just over 1 quadrillion — at the end of March, up ¥4.78 trillion from three months earlier, the Finance Ministry said Tuesday. The growing debt reflects a lack of financial resources amid ballooning social security ...

Debt-laden companies imperil China's growth

Feb 29, 2016

Debt-laden companies imperil China's growth

China is not just contending with falling stocks, a plunging currency and a slowing economy. It has vampire trouble, too. The Chinese economy is pock-marked with companies that cannot pay their bills and survive only with government help. Jiangshi, the Chinese call them — ...