Posted on 01/17/2023 10:22:23 AM PST by USA-FRANCE
The size of China’s debt problem is truly staggering. At last measure, debt of all sorts – public and private and in all sectors of the economy — amounted to the equivalent of $51.9 trillion, almost three times the size of China’s economy as measured by the country’s gross domestic product. This is the highest level recorded in the 27 years since Beijing first began to track such statistics. Matters seem set only to get worse.
(Excerpt) Read more at forbes.com ...
As a smart guest said on CNBC a decade ago...
China has central planning by engineers, scientists, and mathematicians, and the US has central planning by lawyers.
Neither one is good, but by definition we lose.
Pooh makes all the decisions and he’s no scientist.
Studied (did not graduate) 3 yrs chemical engineering.
31 trillion? You forgot to add unfunded liabilities like SS.
Mao was a brutal, green-toothed child molester who had little girls brought to him for pleasure.
As if murdering millions of his own people in cold blood for political ends was not enough to damn him.
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