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Louis Giokas
China Observer
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Comments by "Louis Giokas" (@louisgiokas2206) on "First-Tier Cities' Office Vacancy Hits Historic High" video.
I was just struck with a thought about the off balance sheet debt of local governments. This practice, in any business, is fraught with danger. Recall Enron in the US. One of the biggest bankruptcies ever. It was caused, to a large extent, by off balance sheet debt. After Enron, many companies were scrutinized and such practices were highlighted and eliminated.
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The Bloomberg statement at the end is so ignorant it beggars belief. If the CCP remains in charge, there won't be a Chinese economy by 2030.
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