China is the crisis that I fear most. Their adventurism in the South China Sea is driven by a desire to distract their public from potential disasters at home. So one hand, desparation could drive them to do something stupid overseas.
On the other, if they can't manage the debt crisis, then their economy could blow up in their face. China has only been stable because the CCP has imposed it since 1949. Before then, China was plagued by a series of very costly and violent civil wars, which exceeded even the destruction of WWII. We talk about societal collapse and the "s--- hitting the fan". In China it would be a dump truckload of manure into an industrial HVAC system.
How are those new cities with no citizens working for them?
Nobody seems to care but they’re at 250 percent debt to GDP.
So is Japan.
That’s dangerous.
Our 100 percent aint so good either.
Don’t know if this is knowable information, but does/has China issued their own debt to buy ours?
If so when we default and/or renegotiate (a more palatable form of default), who really ends up holding the bag (so to speak)?
Otherwise, why so much debt for a country who’s been growing at 5-7 percent for years now?
Not to worry, the American Taxpayer has their back.
China is still a one-party state where the Communist Party has control over literally any organization that matters - certainly including banks.
Yes, their banks may be totally bankrupt, but banks in china will follow the Party line