Comments by "Louis Giokas" (@louisgiokas2206) on "Is China Much Richer Than We Thought?" video.

  1. You must be kidding me. China is basically broke. Just released information shows that 1% of the working age population is in default. All the local governments are in debt and several should be in default. On top of that, the off book debt of Chinas local governments could be even larger than the official debt. If you want to understand how devastating this is look up Enron. China's foreign reserves are at a low level, and this has attracted Xi's attention. Since you can confidentially assume that China's GDP figures are well overstated. All I can say is, total drivel.
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