LINK: A ChiCom update, courtesy of Derb.
"Is there any good news? Well, yes. As the second of those reports notes: "The central government is severely limited by its low tax collections and must resort to deficit financing to meet the country's burgeoning demands." This is to put it mildly. China's economy, in so far as any facts about it are agreed on by the experts, dwells in the shadow of a huge public debt overhang. In the best of times this means that the People's Liberation Army has to fight for its share of the national budget; if there were to be a serious world-wide trade slowdown, China would face acute crisis."
"Thou shalt not extinguish thine anger, but shall master it,
that thy conscience may not be blunted by adjustment
to wrong causes."
-The Dutch Ten Commandments to Foil the Nazis
No comments:
Post a Comment