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Q: Are Chinese people really aware of the national debts of their government?
According to an article written by Kelvin Soh and Aileen Wang and published on Reuters online version, Chinese "local governments had amassed 10.7 trillion yuan in debt at the end of 2010" and "the government expects 2.5 to 3 trillion
yuan of that will turn sour, while Standard and Chartered reckons as much as 8 to 9 trillion yuan will not be repaid."
You have successfully joined the economic union of the world. Western leading countries have been doing that for years. It seems to make no difference to the lending country. Bad loans are commonplace. China can actually afford it. Stop worrying. I only need a few thousand yuan a month as long as that is paid....well......who kind of cares?
nevermind:
China can't afford it. This place is secretly going broke. That's why they want to charge us an insane monthly rate for "social insurance"
I think most Chinese knew the news and didn't care much. Chinese government started to aware of it way before crisis, they are doing some remedy works ever since 2008. Still lots of money are vanished from that time, this is why people are angry, but we give time for them to make it correct. The weak actions on the inflation also added more angry to Chinese people. This is why I say China government should pay more attention to the rising angry of their people in the coming year.
Wow! Can you give us a link to that article? Thanks
since somebody asked the link : http://www.reuters.com/article/2011/10/10/us-china-debt-idUSTRE79901L20111010
Thanks for the link. I don't think very many people in the world are aware of this. I think this is an economic game changer.
