The Chinese New Year: Their economy is broke
Kannon Fodder:
Celebrating the Chinese New Year, here’s something that caught our eye in the UK Times Online: A couple of quotes: “Even before the global financial crisis, those in absolute poverty (earning less than US$1 a day) doubled in China over the past decade… The general economic outlook is so dire that the Chinese President, Hu Jintao, has increasingly issued warnings about the possibility of political and social collapse.” The subtitle of the article says it all: “Beijing’s “authoritarian capitalist” model has gone as far as it can. Chaos, corruption and indecision have been ignored.”
Times Online
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Well if China begins to decline thats bad news for us. I mean they back something like a third(correct me if wrong) or our national debt. I mean what if they start asking for some sort of compensation?