The Phaserl


China’s Growth Story Ends With a Whimper

by Dan Amoss, Daily

The Chinese model of economic growth is flawed. It has wasted resources on an unprecedented scale. Empty cities, excess industrial capacity and sour construction loans litter the country. New lending yields less and less incremental growth. And the very worst construction projects aren’t producing enough cash to service debts.

The Chinese economy, like most others, rests on a shaky foundation of credit. The country has completed the largest building boom in history — a boom that depended on unsustainable growth in the supply of money and credit.

It’s important to understand that there are effectively two governmental factions in China: one that’s interested in power, control and stability and one that’s interested in getting rich no matter the consequences.

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1 comment to China’s Growth Story Ends With a Whimper

  • Dee

    Did it ever occur to anyone that these empty cities will quickly become full once gold and silver and/or the yuan are revalued and the US dollar is dropped by China? Preparation. Just a thought.

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