Is China's Success Real?
I keep looking at all the wonderful things being achieved by China in such a relatively short period of time. I see blogs on the internet talking about China's infrastructure being far superior to anything in the West. I hear about the achievements having occurred at unbelievable speed. Then I wonder, if it was that simple, why didn't any Western country do the same? Possibly because they weren't big enough? Some might say they never had the perfect political and economic structure in one country. Maybe... Then I look at the debt China has accumulated. They have a GDP of $18 trillion US. If you listen to Kyle Bass, who claims to have studied the Chinese financial system closely, China's debt is 350% of GDP. That's almost $70 trillion US. Who owns that debt? When is it due? Can it be peacefully rolled over? Is the CCP pretending to be successful, but hiding behind promises they can't possibly keep? I've heard that by 2035 China's pension system will be br...