The manager, who wanted to remain anonymous, said: “The Chinese delegation has said all week that there will be double-digit growth for years to come and the Brits have lapped it up. But the data doesn’t add up. We think we’ve experienced credit bubbles over the past few years, but China is the biggest. And yet the global economy is looking to China as not just a crutch but a springboard out of the recession. It’s crazy.”
Lou Minatti said “…it would be wise to prepare for this. (China falling)”
By doing what?
I have a friend in Shanghai I used to talk to regularly on Skype, before it got blocked in China (a few months ago). He’s an accountant there. This is exactly what he was telling me. He said “don’t believe all the stories about China’s great economy, it’s all going to come apart sooner than later”. He would note that the Government is just feeding lies to the west to make China seem more successful than it actually is.
I miss talking to him. I would research stories and pass the info to him, that he could not find over there. Mostly about politicians that disappeared there and other news events involving China. Oh well. Hope he and his family are doing ok.