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China´s House of Cards

China’s economy is a house of cards. It’s dominated by the heavy hand of the CCP, it’s rife with corruption and cronyism, and China’s GDP numbers are propped up by useless infrastructure projects.

Add to that all of the debt that is unreported, and bad debt that is not written down, and you have a recipe for implosion.

State-owned banks aren’t obligated to report their activities to international financial organizations such as the Bank of International Settlements and the International Monetary Fund.

https://www.zerohedge.com/news/2019-08-09/bailout-3-chinese-bank-200-billion-assets-nationalized

https://www.marketwatch.com/story/pimco-says-biggest-risk-for-emerging-markets-right-now-is-unreported-china-lending-2019-08-15?mod=mw_theo_homepage

https://www.scmp.com/economy/china-economy/article/3018991/chinas-total-debt-rises-over-300-cent-gdp-beijing-loosens

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