Serial debt trapper China gets buried under a mountain of debt

April 17, 2021 | 3 Comments »

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  1. @ Adam Dalgliesh:
    People living in Red China are always in danger from the government. Someone described it as having dinner at a table, with a dangerous snake hanging from the chandelier. So far, so good… More noodles?

  2. I agree that China is in deep economic trouble, and that its seeming wealth is largely a facade. I would expereciate it if Michael would share more of his personal experiences and those of his relatives with the Chinese government.

  3. Forgetting the news about China, which is almost always fake, I know on the personal level that China is in deep, deep doo-ddo. The CCP has been devastating my family’s business, literally again and again and again, over the past five years. In a country that’s centrally planned by a single ruling party, it’s not too hard to understand:

    1. Xi’s CCP ideas are creating lack of freedom and hence lack of incentive to work and invest, and a political culture of lying yes-men.

    2. As a result, the economy is collapsing, from the bottom up. Reckless foreign policies incurring the wrath of trading partners such as Australia and the US are only exacerbating this, along with unprofitable, unnecessary infrastructure white elephants.

    3. Xi is surrounded by some of the most corrupt people in the world, beginning with his vice-president. They are plundering the economy.

    4. Xi has to get money from somewhere; and like his counterpart in the US, Administrator Biden, he has decided to stick it to the middle class. This, of course, affects some families directly and personally.