In this talk titled, "Local Government Financing Vehicles and Local Government Debt in China," Professor Clarke will discuss the companies capitalized and owned by local government and established for the purpose of raising funds for municipal infrastructure construction. The mushrooming of their number and indebtedness has sparked fears about their ability to repay the debt and the consequences of a default.
Are local governments responsible for their debt? Should they be?
Donald Clarke is a professor at the George Washington University Law School in Washington, D.C., where he specializes in modern Chinese law, focusing particularly on corporate governance, Chinese legal institutions, and the legal issues presented by China's economic reforms. In addition to his academic work, he founded and maintains Chinalaw, the leading internet listserv on Chinese law, and writes at The China Collection blog.