This paper gave a deep analysis of the causes of local debt and the impact of risk factors from the status of local government debt risk.

地方债务的成因问题 ，许多学者已从不同角度给出了解释 ，但笔者认为这些解释都不足以说明地方债务产生的真正原因。

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The government has lent millions of dollars to debt-ridden banks in contravention of local banking laws.

政府把数百万美元借给了债台高筑的银行，违反了地方银行业法律。

《柯林斯英汉双解大词典》

For instance, WisdomTree emerging Markets Local Debt (ELD) tracks a portfolio of government bonds from 15 emerging-market countries, including China, Brazil, and South Korea.

比如WisdomTree Emerging Markets Local Debt，它跟踪由中国、巴西、韩国等15个新兴国家的公债组合。

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At the same time, national and local government debt now approaches 200 percent of GDP.

FORBES: 2011, Year of Decision

All told, outstanding local government debt has exceeded central government debt since 2007.

FORBES: Barclays' Take On China's Muni Debt 'Crisis'

However, Huang believes there are significant risks associated with local government debt.

FORBES: Barclays' Take On China's Muni Debt 'Crisis'