China’s dim prospects turn disastrous


Olde Hornet

Well-Known Member

Russia’s terrible war generates headlines, but China’s growing debt crisis is mostly ignored. And yet, it will have profound negative effects on the global economy. In just three generations, Beijing built a middle class bigger than America’s entire population. But now Chinese many face ruination. China’s domestic real estate bubble, due to deregulation, is so gargantuan that much of its middle class has been damaged.

“China’s debt bomb looks ready to explode and many warning signs suggest that a debt reckoning is imminent,” warns Nikkei Asia.

A massive mortgage revolt is underway, and as banks fail, protests grow. Today, 50 million empty or unfinished units bought on “spec” in hundreds of urban areas may never be completed or paid for, equivalent to one-third of all housing units in the United States.

Besides that, Beijing itself is owed $1 trillion by struggling governments around the world that cannot afford to pay back loans for Belt and Road Initiative projects. The result of this domestic and foreign borrowing is that this year China’s debt is expected to reach the equivalent of 275 percent of its GDP due to massive borrowing and economic slowdown. The United States, by comparison, is expected this year to reach a debt level of 98 percent of its GDP.
 

GSUperTiger

The "Icon" of BCF
Their thirst for imperialism with expansion in the Pacific will increase their debt further. The Chinese are looking like the second coming on Imperial Japan in WWII with their claiming of the entire South China Sea and setting up naval bases beyond mainland China.

I read that the other day where they set up a treaty with the govt. in the Solomon Islands potentially giving them closer access to U.S. allies like Australia and U.S. territory in Guam. When our Coast Guard requested to refuel at Guadalcanal, the Solomons govt. ignored us. Hopefully, these are not signs of WWIII.
 

pvdogteam

Who ya rootin' for? PVU
I saw on Youtube where China is taking people's money on property not yet built and some they never finish, with the size of their population it could become everyone's problem
 

The Founder

Well-Known Member
Their thirst for imperialism with expansion in the Pacific will increase their debt further. The Chinese are looking like the second coming on Imperial Japan in WWII with their claiming of the entire South China Sea and setting up naval bases beyond mainland China.

I read that the other day where they set up a treaty with the govt. in the Solomon Islands potentially giving them closer access to U.S. allies like Australia and U.S. territory in Guam. When our Coast Guard requested to refuel at Guadalcanal, the Solomons govt. ignored us. Hopefully, these are not signs of WWIII.

To me it is signs of WWIII. The Ukraine is the start. All it takes is one wrong move and Europe can be a war zone.
 

Olde Hornet

Well-Known Member
India launches new aircraft carrier as China concerns grow
:popcorn:
:popcorn:
:popcorn:


https://news.yahoo.com/india-launches-aircraft-carrier-china-065958295.html

NEW DELHI (AP) — India commissioned its first home-built aircraft carrier Friday as it seeks to counter regional rival China's much larger and growing fleet, and expand its own indigenous shipbuilding capabilities.

The INS Vikrant, whose name is a Sanskrit word for “powerful" or "courageous," is India's second operational aircraft carrier, joining the Soviet-era INS Vikramaditya that it purchased from Russia in 2004 to defend the Indian Ocean and Bay of Bengal.

The new 262-meter (860-foot) carrier, designed by the Indian navy and built at the Cochin shipyard in southern India, was launched by Prime Minister Narendra Modi as part of the country's commemoration of 75 years of independence from British rule.

More than just adding to the country's naval capabilities, Modi stressed the importance of India now being only one of a handful of nations with an indigenous carrier program.

"It’s a historic day and landmark achievement," Modi said. “It’s an example of the government’s thrust to make India’s defense sector self-reliant.”

The carrier is the largest warship to be built in the country, and can carry a crew of around 1,600 and operate a fleet of 30 aircraft, including fighter jets and helicopters, the navy said.
 
Top