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  1. Armand2REP

    China's (US$8,480) nominal per-capita GDP surpasses Mexico (US$7,993)

    Give me a break. They only float because they are backed up by the government. There is a limit to how much waste a government can support. There are $10 trillion in non-performing loans floating around the system that is going to have be flushed out and when it does, there will be pain...
  2. Armand2REP

    China's (US$8,480) nominal per-capita GDP surpasses Mexico (US$7,993)

    That applies to the zombie SOE, that does not apply to the government that must back up the faith and credit of its monetary system. At the end of the day the books must balance. Owning most of your debt does not make it go away. It only lets you kick the debt bomb down the road.
  3. Armand2REP

    China's (US$8,480) nominal per-capita GDP surpasses Mexico (US$7,993)

    Apparently you don't understand what a write-off is. That refers to tax write-offs when companies suffer losses. When you are the government that collects taxes there is no one to write it off to. The people who pay the taxes are the ones who pay the losses.
  4. Armand2REP

    China's (US$8,480) nominal per-capita GDP surpasses Mexico (US$7,993)

    When every man woman and child in China Inc collectively owes $30,000 and $8,000 is the median income, how do they pay that back? It is all about the high debt.
  5. Armand2REP

    China's (US$8,480) nominal per-capita GDP surpasses Mexico (US$7,993)

    Chinese economy hasn't had organic growth since 2008. Everything is debt driven which isn't sustainable GDP. Subtract 30% and you get closer to the real number.
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