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Go Back   Armchair General and HistoryNet >> The Best Forums in History > Current Events > Latin America & the Caribbean

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Latin America & the Caribbean Including issues of Central and South America and Mexico.

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  #16  
Old 24 Apr 12, 23:52
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Originally Posted by Destroyer25 View Post
They have so much debt that they'd have 0 dollars left if they paid it all off.
World Debt Comparison



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  #17  
Old 25 Apr 12, 07:36
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Originally Posted by philiplaos View Post
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...
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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...

[...]

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.

[...]

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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  #18  
Old 25 Apr 12, 19:59
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Originally Posted by philiplaos View Post
Completely useless. Most of China's debt is intra governmental and below the federal level. Their total debt is actually 6 trillion IIRC.
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