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China is a basket case....

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  1. #61

    Join Date
    Apr 2008
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    2,884

    There's a magic formula to becoming a millionaire in China - borrow big to earn big.

    For years, individuals, state-owned companies and municipalities have taken massive loans to chase the Chinese dream.

    Now it's payback time, but a severe economic slowdown means many are struggling to pay their debts.

    101 East asks, is this the end of China Inc?

    The End of China Inc? - 101 East (25min)

    https://www.youtube.com/watch?v=nGHmk4UeK_w


  2. #62

  3. #63

    Join Date
    Dec 2012
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    295

    It's true. China Gov't owns all banks and controls everything. The Debt to GDP number can be 1000% and it wouldn't mean anything - only because the CCP will not let civil unrest happen to them. They will not lose their grasp of power by any means.


  4. #64

    Join Date
    Mar 2008
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    136

    That is a frightening report and it seems the working people who are bearing the brunt of this won't go down without bravely talking to foreign media (clearly they have no assets to lose), fighting the police and if this is common across many locations and many industries it could be they will take the CCP with them!

    A very disturbing and saddening situation.


  5. #65

  6. #66

    Join Date
    Apr 2008
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    Quote Originally Posted by East_coast:
    60 per cent of China’s richest people plan to invest abroad and emigrate in next three years, says survey | South China Morning Post
    Interesting that Hong Kong is not among the destinations:

    In their choice of emigration and investment destination, the US topped the list, followed by Britain, Canada, Australia and Singapore.
    Just 2 years ago HK was still on the top and it was only 50% of the rich that wanted to leave:

    Hong Kong is their preferred destination, followed by Canada and the United States.
    Wealthy Chinese look to emigrate - Sep. 15, 2014

  7. #67

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    May 2013
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    A survey of 50 respondents out of a universe of 2.3 million millionaires (USD millionaires) in China has a margin of error of +/- 13.86%.


  8. #68

    Basket case China has research capabilities to cure the world's deadly viruses.

    Will China’s scientists’ breakthrough sound death knell for world’s deadly viruses? | South China Morning Post


  9. #69

  10. #70

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