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What Shenyang’s Ghost Town Means for China’s Economy

Monday, August 13, 2012 17:21
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Stores closed. Shops shuttered. Images from Shenyang, China last week show parts of the city turned into a ghost town. The reason? Widespread panic among business owners after reports that local authorities were running a campaign to crack down on “counterfeiting,” but that authorities were really using the crackdown to impose huge fines on businesses, due to a local government budget shortfall ahead of the 2013 National Games, which will be held in Shenyang. But is that the real reason for the authorities actions? Is Shenyang an isolated incident? And what does this mean for China's broader economy? For more news and videos visit ➡ english.ntdtv.com Follow us on Twitter ➡ http & twitter.com Add us on Facebook ➡ on.fb.me
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