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Q: How can China rebalance its economy when it doesn't know what its debt is?

China has decided to cut  off credit to rebalance the economy. However, it admits it has no idea what local government debt is. Estimates of local government debt range from Standard Chartered's 15 percent of the country's GDP at end-2012 to Credit Suisse's 36 percent.

 

www.reuters.com/article/2013/07/05/us-china-economy-idUSBRE9640CG20130705

 

Some credit agencies estimate China's debt at 200% of GDP, or possibly higher. China seems unsure what the figure is.

 

Without accurate figures to work with, can China achieve it's desired rebalancing act?

6 years 46 weeks ago in  Money & Banking - China

 
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winkYou must have not read through one of the articles related to this topic. China can pay for it all pay the debt completely off now if they wanted to. Some countries owe China and they could just take those monies to pay off their entire debt. 

 

Ha ha, I said: 'monies"!

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6 years 46 weeks ago

There are cookies, bookies and too many rookies for me to sit here trying to be a hooky! Looky Looky don't call me a wooky. Touchy Touchy Feely Feely Spicy Spicy Nicey Nicey & that's what the doctor Ordered!!

 
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It's a guessing game considering the shadow loans and  - who knows what else - prevalent in Chinese banking. 

Further, any set of policies mandated in order to resolve economic issues depends on local compliance. Good luck with that. I wish I could see the accounting for all this mess. It's either a fascinating maze of deceptive entries amounting to fraud or just hilariously obvious fraud. 

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6 years 46 weeks ago
 
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china is not italy  or greece. china essentially a rogue govt.. they can do whatever they want and they do not care about the consequences. they can decide to erase the debts to other countries.. they can decide to seize foreign companies , assets in china. beilieve  this was planned from the very begriming. 70 year land ownership, chinese business partner. this all gives china somewhat legal means to force companies out.(chinese owner claims bs cause, goes to court. kangaroo courts sides with chinese) democracies can't follow suit and take revenge against chinese companies (rule of law) . chinese companies keep their assets in other countries, foreign companies lose everything in china.

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6 years 46 weeks ago
 
Posts: 257

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Actually this was news a little over a week ago. I own stock in the company so I follow it fairly closely. I can only pray that Sinovel has to pay up eventually. AMSC is a fairly small company, but the proof of the theft is undeniable, and the company has a lot of former MIT professors working there. In over 2 years the Chinese courts have done nothing so the US government had finally decided to proceed in an American court

http://www.forbes.com/sites/williampentland/2013/06/27/u-s-indicts-chine...

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6 years 46 weeks ago
 
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https://www.marketwatch.com/story/getting-rid-of-debt-may-actually-make-your-brain-work-better-2019-03-29

 

The skeptic in me has to ask "Does this mean debt and consumerism is a plot by governments to make us serfs "mentally" disabled and keep running the show?

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1 year 8 weeks ago
 
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