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Is China Nearly Bankrupt?

Discussion in 'Political Discussion' started by PatriotsReign, Nov 18, 2011.

  1. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Professor Larry Lang of the University of Hong Kong seems to think so. Of course even if it were true, no one would know because the Chinese gov't doesn't believe their lowly citizens deserve to know all that is going on in China.

    "China’s economy has a reputation for being strong and prosperous, but according to a well-known Chinese television personality the country’s Gross Domestic Product is going in reverse.

    Larry Lang, chair professor of Finance at the Chinese University of Hong Kong, said in a lecture that he didn’t think was being recorded that the Chinese regime is in a serious economic crisis—on the brink of bankruptcy. In his memorable formulation: every province in China is Greece.

    "In the unusual, closed-door lecture, Lang gave a frank analysis of the Chinese economy and the censorship that is placed on intellectuals and public figures. “What I’m about to say is all true. But under this system, we are not allowed to speak the truth,” he said"


    Chinese TV Host Says Regime Nearly Bankrupt | Business & Economy | China | Epoch Times
     
    Last edited: Nov 18, 2011
  2. mcgraw_wv

    mcgraw_wv In the Starting Line-Up

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    The short answer is yes, because so much of their "wealth" is based off accumulating lots of slips of paper which inherently have no real value.
     

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