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Forum Post: The Chinese Bailout?

Posted 3 years ago on Dec. 19, 2011, 5:46 p.m. EST by badconduct (550) from Ottawa, ON
This content is user submitted and not an official statement

http://www.bloomberg.com/news/2011-12-18/china-debts-dwarf-official-data-with-too-big-to-complete-alarms.html

There are 6,576 of such entities across China, according to a June count by the National Audit Office, which put their total debt at 4.97 trillion yuan. That means the 231 borrowers studied by Bloomberg have alone amassed more than three-quarters of the overall debt. The fact so few of the companies have accumulated that much debt suggests a bigger problem, says Fraser Howie, the Singapore-based managing director of CLSA Asia-Pacific Markets who has written two books on China’s financial system. “You should be more worried than you think,” he said of Bloomberg’s findings. “Certainly more worried than the banks will tell you.

It was expected that China bail out all of these other countries, but apparently they are under reporting their own infrastructure debts (which means many of their projects will most likely end up incomplete.

It almost seems like all of these nations should get together and make a write-off, debt for debt deal. That should balance the economy and debt to GDP amounts quickly.

7 Comments

7 Comments


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[-] 1 points by elephant (19) 3 years ago

The us housing bubble is nothing compared to china's construction bubble. china is running a Ponzi scheme that would make Charles Ponzi
proud. If the west goes into a deep recession, china is toast.

[-] 1 points by badconduct (550) from Ottawa, ON 3 years ago

Agreed. It looks like they made the same mistake that North Korea did, spending all of their money on cities that no one needs, and not using the land appropriated to feed the citizens. Everyone assumes they can all live in the city, they forget where all the products are shipped from, rural areas. It's the rural guys that are getting the shaft these days, especially with Keystone XL. Fuel the city, poison the land.

[Removed]

[-] 1 points by demcapitalist (977) 3 years ago

That's an interesting thought. It doesn't address all the bonds held in over leveraged banks and other institutions. I seems like it could be done by central banks and sovereign wealth funds though. With all the other financial magic we have been through I don't know why some of that wouldn't work.

[-] 0 points by kickthemout (83) 3 years ago

[-] nth 1 points 0 minutes ago

Fuck you racist piece of shit. I'ma fuck your nice white daughter.

You uncivilized Chinamen are worth nothing and don't deserve to be here.

[-] -2 points by kickthemout (83) 3 years ago

Let's stop all the Chinese imports and all the Chinamen! and Chanawomen! illegal or legal. They all lied their way in anyway. All these Asians are not good for nothing. Kick them all out of here.

[-] 2 points by nth (21) 3 years ago

Fuck you racist piece of shit. I'ma fuck your nice white daughter.

[-] 0 points by NewEnglandPatriot (916) from Dartmouth, MA 3 years ago

Hey China is just playing the same game.... They were given a taste... The corporations and banks are all in on the scam, and the facilitators. You me and all the 99% are stuck where we are. It could be worse you all know. You don't know how bad other countries really have it. Race has nothing to do with it. I am human, therefore human race. You are human, human race.Ethnic race barriers need to be removed from all talk. At our level we are not at fault. That is what those at top want. Us to remain divided. On race, religion, political issues, sexuality, social issues, crime, terrorism, gun control, the list is infinite. Abandon all hate, race & division. Unite as humanity. Leftover are the facts. I love everybody, Chinese, Canadian, Indian, every race/culture - even criminals. Follow me here. If there were no criminals, how would we know what being good is? Or having morals? The bottom line, China wanted in, now they are in debt just like the rest of us. The whole world economy is based on debt. It is the only way to keep the scheme going, keep spreading the debt around. We are all slaves to the debt. We pay taxes, that is interest on debt. Take out a loan or credit card, all debt. We all work for debt. Eventually we all experience it at one time or another. Debt creates commerce, commerce keeps it going, and eventually the whole ponzi scheme will eventually fail. It already did in Europe, countries are losing sovereignty to debt. USA is next. China will simply have more control. They are not bad, if anything our political reps and banks could have fixed this a long time ago but didn't. It is not China's fault, they have kept it going. They will simply have more control of the global economy at some point. We are all in the same sinking ship, no countries fault. Our fault for setting the bad example to start off with..... Stop blaming each other , we know the problem is the banks and politics. No real people left in those controlling power.