Salvation of the World’s Economic Problems Itself Going Bankrupt?

Of all the worries we have, China is supposed to be the possible bailout savior for Europe, the continuing supporter of US deficit spending and the growth engine for the world during these difficult times. Not so, according to Matthew Robertson:

China’s economy has a reputation for being strong and prosperous, but according to a well-known Chinese television personality the country’s Gross Domestic Product is going in reverse.

Larry Lang, chair professor of Finance at the Chinese University of Hong Kong, said in a lecture that he didn’t think was being recorded that the Chinese regime is in a serious economic crisis—on the brink of bankruptcy. In his memorable formulation: every province in China is Greece.

According to Mr. Robertson, Professor Lang is unusually outspoken for an academic, especially one located inside China.

Robertson states that Lang bases his conclusion on several factors:

Lang’s assessment that the regime is bankrupt was based on five conjectures.

Read the full article to understand Robertson’s take on Professor Lang’s position.