05-01-2012, 08:41
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#1
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Official CF Mafia member
Join Date: Oct 2006
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Posts: 9,609
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Bad debts in China?
Quote:
China has uncovered 531bn yuan ($84bn; £54bn) of irregularities in local government debts.
The National Audit Office said breaches included "irregular credit guarantees", "irregular collateral" and "fraudulent and underpayment of registered capital".
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http://www.bbc.co.uk/news/business-16405253
I hope they'll still be able to bail the rest of us out... 
__________________
God only knows what sort of mess we'd be in if Brown hadn't been so 'prudent' and Bliar hadn't been 'tough on crime...' and so selflessly devoted to world peace and eradicating poverty... 
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05-01-2012, 08:55
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#2
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cf.geek
Join Date: Mar 2007
Posts: 596
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Re: Bad debts in China?
That's some variance (6 * 2012 Olympics)
or about £50 for every man, woman or child in China
Last edited by chris9991; 05-01-2012 at 09:50.
Reason: another perspective
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05-01-2012, 10:57
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#3
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To Fly, To Serve
Join Date: Oct 2011
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Re: Bad debts in China?
If America goes bust then china will be in real trouble, China is one of Americas biggest creditors, but not as much trouble as japan, they will go best as they have 200% or GDP debt and are also of Americas biggest creditors!
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05-01-2012, 11:02
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#4
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cf.geek
Join Date: Mar 2007
Posts: 596
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Re: Bad debts in China?
Well, reports are that China is trying to shift the amount of US debt it holds as well as not buy so much in the first instance to reduce the risk if/when the US defaults
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05-01-2012, 11:03
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#5
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cf.mega poster
Join Date: Jun 2008
Location: On the move
Age: 33
Posts: 9,757
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Re: Bad debts in China?
Quote:
Originally Posted by Alan Fry
If America goes bust then china will be in real trouble, China is one of Americas biggest creditors, but not as much trouble as japan, they will go best as they have 200% or GDP debt and are also of Americas biggest creditors!
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Japan's debt is quite unique as the overwhelming majority of it is held domestically rather than internationally. It's why they've been able to sustain such a massive debt.
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05-01-2012, 11:10
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#6
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To Fly, To Serve
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Re: Bad debts in China?
Quote:
Originally Posted by Ignitionnet
Japan's debt is quite unique as the overwhelming majority of it is held domestically rather than internationally. It's why they've been able to sustain such a massive debt.
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Yes, but for how much longer!
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05-01-2012, 11:13
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#7
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Cable Forum Team
Join Date: Jun 2003
Age: 48
Services: Moving Goal Posts a speciality
Posts: 15,383
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Re: Bad debts in China?
One thing I don't get is that if everyone is owing everyone money, who actually has the money that has been loaned in the first place. Or is the reality that this money never existed and the economics that have fuelled the industrialised world economy always been on a false pretence that has now been exposed as one big lie? And assuming that is the case, are we very close to a real meltdown as nobody can pay their bills.
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05-01-2012, 11:19
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#8
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To Fly, To Serve
Join Date: Oct 2011
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Re: Bad debts in China?
Quote:
Originally Posted by Rob
One thing I don't get is that if everyone is owing everyone money, who actually has the money that has been loaned in the first place. Or is the reality that this money never existed and the economics that have fuelled the industrialised world economy always been on a false pretence that has now been exposed as one big lie? And assuming that is the case, are we very close to a real meltdown as nobody can pay their bills.
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We nned to complely change our ecomonic system and capitalsim itself!
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05-01-2012, 11:30
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#9
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Cable Forum Team
Join Date: Jun 2003
Age: 48
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Re: Bad debts in China?
Quote:
Originally Posted by Alan Fry
We nned to complely change our ecomonic system and capitalsim itself!
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To what?
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05-01-2012, 11:34
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#10
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To Fly, To Serve
Join Date: Oct 2011
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Re: Bad debts in China?
Quote:
Originally Posted by Rob
To what?
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A better form of capitalism that represents the rest of us, not just the very rich!
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05-01-2012, 11:35
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#11
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** **** ********
Join Date: Sep 2007
Posts: 10,759
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Re: Bad debts in China?
Can't the whole world just call it quits with each other and start afresh? 
we could set up charities galore all over the world, and have governments down as recognised charities. fund raising events. text donations and everything.
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We need captcha to determine whether Gary L is actually a bot.
Just a reminder - people with cups under their name are superior beings.
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05-01-2012, 11:40
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#12
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Cable Forum Team
Join Date: Jun 2006
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Posts: 22,892
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Re: Bad debts in China?
Quote:
Originally Posted by Alan Fry
A better form of capitalism that represents the rest of us, not just the very rich!
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For once, I agree with you. 
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Just to make it clear if a post is bold and is from a team member, it's a moderating decision. If it's not bold or not from a team member, it's not.
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05-01-2012, 11:42
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#13
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(_x_)
Join Date: Apr 2008
Location: Nottingham
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4-5 Mb Unlimited BB lol
Posts: 261
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Re: Bad debts in China?
Quote:
Originally Posted by Rob
To what?
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Star Trek wonga..
We need gold pressed latinum, and we need to get as much of it as we can, before America corners the market
__________________
Sinclair ZX81, 16k expansion Pack and a colour telly..
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05-01-2012, 12:06
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#14
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cf.geek
Join Date: Oct 2008
Location: Huntingdon, Cambs
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Posts: 504
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Re: Bad debts in China?
Quote:
Originally Posted by Alan Fry
A better form of capitalism that represents the rest of us, not just the very rich!
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Or embrace Communism like....ahem ...China
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05-01-2012, 12:18
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#15
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Official CF Mafia member
Join Date: Oct 2006
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Re: Bad debts in China?
Quote:
Originally Posted by Pog66
Or embrace Communism like....ahem ...China |
... and Russia don't forget. No super rich elite there you know... 
__________________
God only knows what sort of mess we'd be in if Brown hadn't been so 'prudent' and Bliar hadn't been 'tough on crime...' and so selflessly devoted to world peace and eradicating poverty...
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