chinese debt out of control, page-26

With respect to all

Some of you pretend to know everything that is going on in China and so do the commentators in the media and business stations like CNBS and alike.

The fact is that a majority of you and the media have never ever been to China to see it for yourself. I fly into China every month and see the growth and the emerging middle class first hand. When I first arrived in Beijing some 10 yrs ago there were still donkeys pulling carts around the street; now there is multi-lane highways and the traffic to fill them. High speed trains and another 45 or so airports the size of Sydney to be built. How many capital city airports does Australia have. Sure there will be mistakes made along the way as well as the uncertainties that go along with it as well as the pretenders who make commentary about stuff they know little about.

China is a 50 year story and the Chinese are fairly smart when it comes to finances. I would not believe anything that comes out from official sources on the up side or down side. China is in charge of it's own destiny and will not allow something as simple as the truth to stand in it's way. The other thing is that the US are hooked on China because of the potential of it's consumer market. Maybe you haven't heard of WalMart or Mcdonald's or KFC China.

Oh btw in finishing it seems that this thread is so China centric in its outlook ie if China falls down then the world is going to collapse. We seem to forget there are a number of emerging markets - India rings a bell. That's the country that shares a border with China with 1.3 billion or so people and an emerging market and middle class but it never seems to get a mention. China ain't the only player in town. I'm sure with a bit of imagination we can think of others.

Cheers
BW