Comments by "Patrick T" (@patrickt49) on "Is China Much Richer Than We Thought?" video.

  1. They're done developing. You guys are developing rapidly and so are the rest of Southeast Asia.
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  2. Their HSR is accumulating debt. Just because you own something expensive doesn't necessarily mean you won't go unto debt maintaining that thing especially if it's poorly managed. Like everything else in China, it's all smoke and mirrors. No different than owning Ferrari but don't have the money to put gas in it or money to maintain it.
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  3. China cheats every chance it gets. Having "developing nation" status enables them to get dole outs. But what kind of "developing nation" has a space program? It really makes you wonder what their priorities are. But then again North Korea has a space program and they are where they are.
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  4.  @bobmorane4926  They're racking up debt. It's not hard to find articles on google that support this simple and obvious fact.
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  5.  @bobmorane4926  all you are commenting on is the superficial. Those structures you mentioned are built on loans and shoddy construction, which hardly qualifies as anything of value. Look at Evergrande, Kaisa, even the HSR to name a few examples - They're all run the same way - There is no foresight. It's all about keeping GDP numbers up on paper. Guess what? Everyone on credit looks like they're "richer" than they are until they need to pay back their loans and credit cards.
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