Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (65772)	1/13/2003 11:47:45 AM
From: Ilaine	Read Replies (1) \| Respond to of 281500

>>when official debt is added to bad loans at state banks and the unfinanced pensions of state workers, China's debt rises as high as 140 percent of economic output<< Who are they borrowing from? Not me, and for your sake, I hope not you. Reminds me of the US boom in the 1830's, when various states borrowed money from abroad to build ambitious projects like canals, only to default, which was one of the causes of the Great Depression of 1837-1843, probably the second worst we've had (no good statistics back then.) Also the German boom in the 1920's, when various German states and municipalities did the same - borrowed for ambitious projects, defaulted, and helped cause a Great Depression.