In China, the heat is being turned up on local governments, which have been characterised as the SIVs of the country’s financial bubble.
Local governments are saddled with huge debts, and are desperate for the real estate bubble to continue feeding the beast.
As such, we’re not surprised to see stories like this, from ShanghaiDaily.com:
THE mayor of a southeast China city committed suicide yesterday by jumping from a government building.
Officials in Fujian Province confirmed Zhang Guosheng’s early-morning death.
Zhang, the mayor of Putian, jumped about 8:30am after he scrambled out of a toilet window on the fifth floor, according to a statement released by the information office of the city yesterday afternoon.
He died later in hospital.
Here’s what makes this story remarkable. ShanghaiDaily describes this as a trend:
More than 20 suicides have been reported among China’s officials since 2009.Their deaths have fuelled speculation they were “sacrifices” to prevent investigations of other corrupt officials.
Zhen Lifu, 51, a senior political adviser in Jiangmen City, of south China’s Guangdong Province, was found dead after hanging himself near his home on March 20.
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