The Wave Of Crisis From China

Dr. Michael LaitmanOpinion (Larry Lang, professor of finance at the Chinese University of Hong Kong): “Larry Lang was reported by The Epoch Times as saying that China’s economy is on the ‘brink of bankruptcy’ and that ‘every province is a Greece.’ …

“According to the Chinese government website (, 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. …

“The audit discovered that 1033 such companies have problems such as false-financing, the registered capital being unpaid-in, illegal provision of funds and the withdrawing of them by local governments and departments, involving a sum of 244.15 billion yuan,” the audit said in its findings. …

“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.

“‘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.”

My Comment: Everything is just unfolding, but since the script is already open, it makes no sense to talk about it. We are facing either a new understanding and correction of people and social relations or a world war, after which we will repeat evolution and nonetheless come to correction.

Related Material:
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“Chinese Economy Already In ‘Hard Landing’”
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One Comment

  1. I can think of no greater failure, than having to repeat all the suffering of our species once more, just to have another chance to be where we are today. Let us not miss at the end, let us strike the bullseye and liberate humanity from purposelessness. As One, we will overcome.

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