China's Debt Problem Worse than Portugal

reply to post by haarvik


Already posted

www.abovetopsecret.com...

Originally posted by eLPresidente
China has a hell of a lot better chance to pay off it's debts in contrast to America, why? because they make stuff and export it, people import it and buy it. Simple as that. America can only sell so many drugs and weapons.

If those consumer markets which supports China's exports tank and go belly up who will be buying all those products? Their internal markets are not strong enough yet.

I've enjoyed reading this thread. It's really quite comical. When discussing US debt most have all the facts. Debt level, GDP and the like... Why? Because most of it is public knowledge and people feel free to dissect and critique the US financial situation while developing their own theories and opinions. All of it being deemed acceptable criticism etc.

BUT when people call out China [Which has very little transparency & keeps everybody in the Dark] on the same scenario now all of a sudden it's an "Anti-China" campaign by supposedly scared arrogant Americans.

Yeah, China has their A+ credit rating which is still three ranks lower then the new US standing of AA+ yet they want to criticize the US as being untrustworthy. So what does this say about their affairs? [Again which they keep everyone in the dark about] They went on a stimulus spending binge just like the rest of the world in 2008 to help keep their "Artificial" growth going. Will they again play the same tune this time around while all those marvelous markets that kept their export industry going dry up?

I'm going to bookmark this thread and revisit it in about two years. This should be interesting to watch unfold. The US situation is bad, no doubt. But I feel people are putting way too much trust in China. For all those who are buying into this crap....


Caveat Emptor

China's economy is better off than us because the Chinese people....can't declare bankruptcy.

Thus no losses. If some Chinese man bought an apartment for 500,000 Yuan....lost his job.....they will keep him in that apartment until he gets another job..and make him pay until he dies.

Versus America where they throw you on the street, declare a loss...and you have to start over with another mortgage....get fired....file bankruptcy and get thrown on the street....repetitive losses.

China....no repetitive losses. They can't declare bankruptcy. They have no credit card debt.

Originally posted by Pervius
China....no repetitive losses. They can't declare bankruptcy. They have no credit card debt.

Not quite correct... Business in China does have credit, and China has so far extended credit to those companies to the tune of 200% of their GDP.

reply to post by SLAYER69


Don't get me wrong, I totally see what you're trying to say and agree. In my opinion, these things have been said over and over again so there is really no point to continue with how horrible China is (human rights, media control, currency control, etc..). China's outlook isn't any brighter than other nations but it still is 'brighter' they have a centralized government and that centralized government has a centralized plan, guess what? they actually follow the plan. China has the ability to continuously improve unlike America which resets every 2nd and 4th year, which none of us are happy about.

Originally posted by eLPresidente
China's outlook isn't any brighter than other nations but it still is 'brighter' they have a centralized government and that centralized government has a centralized plan, guess what? they actually follow the plan. China has the ability to continuously improve unlike America which resets every 2nd and 4th year, which none of us are happy about.

Sure thing. If you welcome the killing of unarmed students, silencing of dissent, robbing of neigbours as in Tibet, bullying other neigbours in the backyard, hell with human rights, everyone else who is not the Emperor of China just STFU, then I am sure the tyrant would welcome you to live there and lick his boots daily.

No offense intended, for I am sure you will not lower your dignity to such thing as I would not too, but a sad fact of what the ruling gov of CCP, supposed 'central gov' truly is, which is a bastardization of that word in democracies.

reply to post by eLPresidente

Don't get me wrong, I totally see what you're trying to say and agree. In my opinion, these things have been said over and over again so there is really no point to continue with how horrible China is (human rights, media control, currency control, etc..). China's outlook isn't any brighter than other nations but it still is 'brighter' they have a centralized government and that centralized government has a centralized plan, guess what? they actually follow the plan. China has the ability to continuously improve unlike America which resets every 2nd and 4th year, which none of us are happy about.

I am afraid you are incorrect. The USA does have a "plan" CLICK Nicole documented it starting in 1942. The problem is the plan has nothing to do with what is best for the country. It is about accumulating power and wealth for a tiny number of people.

As long as we keep putting TRAITORS in Washington that support the plan to strip this country of its wealth we are going to remain in deep doo doo.

...This group, called the Committee for Economic Development, was officially established in 1942 as a sister organization to the Council on Foreign Relations. CED has influenced US domestic policies in much the same way that the CFR has influenced the nation's foreign policies.[1]

In its 1945 report...describes how agricultural production can be better organized to fit to business needs.[2] A report published in 1962 ... is even more blunt in its objectives, leading Time Magazine to remark that CED had a plan for fixing the identified problem:

...Some of the report's authors would go on to work in government to implement CED's policy recommendations...

CED members were influential in business, government, and agricultural colleges, and their outlook shaped both governmental policies and what farmers were taught....

Their plan was so effective and so faithfully executed by its operatives in the US government that by 1974 the CED couldn't help but congratulate itself....

The human cost of CED's plans were exacting and enormous.

CED's plans resulted in widespread social upheaval throughout rural America, ripping apart the fabric of its society destroying its local economies. They also resulted in a massive migration to larger cities.

Our problem is not that the USA does not have a "PLAN" but that the plan is pretty much hidden from the US voters and is inimical to their best interests.

The Free Trade Agreements benefited the Large Transnational Corporations and not the USA, Mexico, India or the farmers driven from their farmland in other countries throughout the world by the Cartels manipulation of food prices.


I explained this in detail in two posts last night with the usual links.
www.abovetopsecret.com...

www.abovetopsecret.com...

reply to post by SLAYER69


you don't have to wait...
seen what the markets are doing right now???
Nikkei down -202.32 -2.18%
Hang Seng down -455.57 -2.17%
Straits Times down -110.78 -3.70%

and all that was before they saw that our own
Dow is dropped under 11k 10,926.25 down -518.36 -4.53%

the market has just fallen flat of its ass... and its taking China's wealth along with it...

the only good bit of news is Oil... 81.64 -5.24 -6.03% Gasoline prices should drop sharply too

yup there demise is playing out right now on live tickers all over the globe

Originally posted by Solasis
So, are there any countries in the world that aren't in huge debt?

Really.
Where is the worlds money really going?
Probably car insurance companies as it seems they have all this extra cast to spend on their dumbass commercials.

Thats funny. China owns 1.1 trillion of the U.S. debt, the Rothschild family owns the entire worlds debt. The Rothschilds own China, so they shouldnt be sneering at us when were better off than they are.

A thought, If the Chinese economy goes under will GM and other companies bring production back to the US. Im tired of buying chinese brake pads for my American car. Huh GM brings brake pad manufacturing back to the US, creates jobs, people have money to spend on things, which helps out businesses relying on sales, that can now expand to hire more people and so on and so on. This is common F^&*ing sence and i didnt even take HS economics. Why cant the US make all those millions of sh!tty little plastic products and export them? Guess it would put WalMart out of business but good ridance to that, They sacrfice goats after their daily morning pep speech ceremony.

Originally posted by SeekerofTruth101
Sure thing. If you welcome the killing of unarmed students, silencing of dissent, robbing of neigbours as in Tibet, bullying other neigbours in the backyard, hell with human rights, everyone else who is not the Emperor of China just STFU, then I am sure the tyrant would welcome you to live there and lick his boots daily.

No offense intended, for I am sure you will not lower your dignity to such thing as I would not too, but a sad fact of what the ruling gov of CCP, supposed 'central gov' truly is, which is a bastardization of that word in democracies.

And yet despite all of this, despite the human rights abuses, despite the territorial annexing of their neighbours, despite their refusal to trade in a fair manner like virtually every other country in the world they are still making piles of money.

Why?

Because Western companies have shifted their operations there in the search for yet another easy dollar and influenced our corrupted and worthless governments so to give away what little backbone and moral fortitude they had.

This little arrangement suited the global corporations and hence their lackeys in our governments as it inflated their already prodigious bottom lines. At the very best we turned a blind eye for a quick profit, at worst we are wholly complicit in this farce.

I've also read they are looking at a housing/construction bubble burst in a year or two, I think they were just taking a shot at the US while they could

Originally posted by Solasis
So, are there any countries in the world that aren't in huge debt?

That I don't know.

But Latvia is a great example that no matter how bad your economy looks, you can turn it around if the government really puts it mind to it.
They turned their bad economy and huge debts around in only a 2 year period.
Sure, those 2 years were probably horrible for the people and the industries in the country, but they managed to come out stronger and are now considered one of europes most stable economies (not that it means that much in times likes these, but still).

The only reason some folks are enamored with China is because they hate the US and they wanna see a different Big Boy on top LOL. Idiots. They are idiots because anyone who knows economics knows that China is as in tough shape as the US albeit from somewhat differing factors but also many common factors. China is a huge bubble that is on the verge of bursting at any time from a myriad of reasons.