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| Latin America & the Caribbean Issues of central and south America. |
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24 Apr 12, 22:52
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Lord Of The English Manor
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Real Name: Philip Gibson
Join Date: Jun 2010
Location: Vientiane, Laos
Posts: 13,365
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Quote:
Originally Posted by Destroyer25
They have so much debt that they'd have 0 dollars left if they paid it all off.
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World Debt Comparison
Philip
__________________
"The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts."— Bertrand Russell
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25 Apr 12, 06:36
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Real Name: Dave
Join Date: Aug 2004
Location: Dallas, Texas
Posts: 34,266
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Quote:
Originally Posted by philiplaos
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Most of the ChiCom public debt is at and below the province level and they are running out of OPM as fast as Maobama & Peronandez...
Quote:
Hong Kong (CNN) — Fears that China could soon be facing its own Lehman-style banking meltdown are being fueled by a National Audit Office report...
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According to the Chinese government website (www.gov.cn), the audit found 10.7 trillion yuan of local government debt at the end of 2010, a result of easy loans made possible by the government’s 2008-2009 stimulus injection.
Most of the money, say analysts, has found its way into the construction industry, creating entire cities, complete with apartments and offices that remain empty and unsold.
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In a controversial series of claims, Lang said that overall debt in China was as much as 36 trillion yuan (US$5.68 trillion), official inflation figures of 6.2% were as high as 16%, domestic consumption represented only 30% of economic activity and that there was “serious excess capacity.” He added that despite government headline figures of 9% growth in GDP, production had actually shrunk in China.
He also said China had one of the highest overall tax rates in the world and that Chinese businesses were paying as much 70% of their earnings in direct and indirect taxes.
“Once the economic tsunami starts, the regime will lose credibility, and China will become the poorest country in the world,” Lang concluded in the lecture.
CNN Money
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25 Apr 12, 18:59
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Real Name: "Dest"
Join Date: Jun 2009
Location: ACG Right-Wing Powerhouse HQ
Posts: 7,371
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Quote:
Originally Posted by philiplaos
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Completely useless. Most of China's debt is intra governmental and below the federal level. Their total debt is actually 6 trillion IIRC.
__________________
A wild liberal appears! Conservative uses logical reasoning and empirical evidence! It's super effective! Wild liberal faints.
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