UPDATE 1-S&P eyes China stimulus risks, city spending sprees floated
| Reuters
China can afford to deliver a
fiscal stimulus for its sagging economy, but would risk making
bad investments, ratings agency Standard & Poor's said on
Wednesday as Chinese media fuelled speculation that a fresh
spending boost was on the way.
In its new report, S&P said a mountain of debt left behind
by a stimulus package that helped China fend off global
recession four years ago has curbed Beijing's appetite for a big
stimulus this time round.
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