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IPFS News Link • China

Chinese TV Host Says Regime Nearly Bankrupt


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.

The restrictions Lang placed on the Oct. 22 speech in Shenyang City, in northern China’s Liaoning Province, included no audio or video recording, and no media. He can be heard saying that people should not post his speech online, or “everyone will look bad,” in the audio that is now on Youtube.

In the unusual, closed-door lecture, Lang gave a frank analysis of the Chinese economy and the censorship that is placed on intellectuals and public figures. “What I’m about to say is all true. But under this system, we are not allowed to speak the truth,” he said.

Despite Lang’s polished appearance on his high-profile TV shows, he said: “Don’t think that we are living in a peaceful time now. Actually the media cannot report anything at all. Those of us who do TV shows are so miserable and frustrated, because we cannot do any programs. As long as something is related to the government, we cannot report about it.”

He said that the regime doesn’t listen to experts, and that Party officials are insufferably arrogant. “If you don’t agree with him, he thinks you are against him,” he said.

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


2 Comments in Response to

Comment by PureTrust
Entered on:

In simple terms, what does it mean when a nation goes bankrupt?

Well, it doesn't mean that there are fewer natural resources. It doesn't mean that the people are less willing to work. It doesn't mean that the people are less willing to purchase products and goods (if only they had the money). It doesn't mean that the natural operation of trade has been suspended by the people.

So, what does it really mean when a nation goes bankrupt?

It means that freeloaders in Big Government, the Military, and welfare freeloaders, have used up everything that the workers are willing or able to support them with. A bankrupt country is one that is at the apex, the cross-point, the border-line between advance and decline, growing greater and growing weaker. And it means that the people are ready to go back to trading among themselves at full value rather than supporting a bunch of freeloaders.

So, when you hear that a nation is going bankrupt, be happy for the people. Why? Because they will start getting back full value for their labor... even though there might be an interim of turmoil.

Comment by Powell Gammill
Entered on:

His organs will be available Thursday.