- Sep 5, 2020
Fudge high to launder money and also to keep the banks like bank of China solvent. It is called over invoicing and running a ponzi scheme to payback loans. The other thing is to fool investorsActually there are more evidence that China fudges LOWER to keep Developing Country status in the WTO and other organizations (and also to keep the US from clobbering them early as a threat to its economic dominance.)
You can see this in the car market and also the steel and cement markets.
How likely is it that China which consumes 60% more cars per year than the US is actually the number two economy instead of number one? Or a country who consumes more steel than the rest of the world COMBINED is not the largest economy in the world?
Or used more cement in three years than the US had for the entire 20th Century is just the number two economy?!?
These numbers are vouched by foreign firms in cars since GM, VW, Mercedes, Tesla, etc. dominate a huge chunk of the Chinese market. (Check out Tata, it made more money in China through Jaguar/LandRover than all the models it could sell in India!)
The steel figures come from iron ore exported by Australia, China accounts for around 80 per cent of Australia’s iron ore exports. 80 percent!!!
How likely is an economy consuming that much more than the US in the basic materials of industrialized economies just number two?
Far more likely that China fudges low not high. There is no gain from fudging high. There is a lot to gain from fudging low.
see the video I linked to. It is very clear how the CCP operates. 40-45% of Chinese bank loans are bad loans - most likely massive money laundering. The great firewall Of China is to prevent the peasants of China from discovering the truth and revolting on the streets to get rid of CCP. The video I attached explains it all very well from someone who knew CCP very closely. He was a personal friend of Hu Jintao even. Now the CCP is after him for revealing state secrets.Everything is very clear from that video.The CCP is a massive mafia organization and that’s all there is to it. A revolution is near. The days are not far off when Chinese people will realize the truth and hang each and everyone of the politburo from a lamppost in Beijing.