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<blockquote data-quote="Babagounj" data-source="post: 700515" data-attributes="member: 12952"><a href="http://articles.moneycentral.msn.com/Investing/JubaksJournal/is-china-actually-bankrupt.aspx" target="_blank">http://articles.moneycentral.msn.com/Investing/JubaksJournal/is-china-actually-bankrupt.aspx</a>Is China actually bankrupt?All governments lie about their finances. At worst, as in Greece and the&nbsp; United States, the lies are bold and transparent. Everybody knows the&nbsp; emperor has no clothes, but no one want to say so. At best, as in Canada&nbsp; and China, the lies are more subtle -- more like a magician&#039;s&nbsp; misdirection than a viking raider&#039;s ax. Look at these great numbers, the&nbsp; lie goes, but don&#039;t look at those up my sleeve.There&#039;s a good&nbsp; argument to be made that if you look at all the numbers,&nbsp; instead of just the ones the budget magicians want you to see, China is&nbsp; indeed broke.The currency crisis started in 1997 with the collapse of the <a href="http://www.bing.com/search?q=Thai+baht&amp;form=MSMONY" target="_blank">Thai baht</a>&nbsp; -- and then, like dominoes, the currencies of Indonesia, South Korea,&nbsp; Malaysia and the Philippines collapsed.</blockquote>

[QUOTE="Babagounj, post: 700515, member: 12952"] [url]http://articles.moneycentral.msn.com/Investing/JubaksJournal/is-china-actually-bankrupt.aspx[/url] [B]Is China actually bankrupt?[/B] All governments lie about their finances. At worst, as in Greece and the United States, the lies are bold and transparent. Everybody knows the emperor has no clothes, but no one want to say so. At best, as in Canada and China, the lies are more subtle -- more like a magician's misdirection than a viking raider's ax. Look at these great numbers, the lie goes, but don't look at those up my sleeve.There's a good argument to be made that if you look at [I]all [/I]the numbers, instead of just the ones the budget magicians want you to see, China is indeed broke. The currency crisis started in 1997 with the collapse of the [URL="http://www.bing.com/search?q=Thai+baht&form=MSMONY"]Thai baht[/URL] -- and then, like dominoes, the currencies of Indonesia, South Korea, Malaysia and the Philippines collapsed. [/QUOTE]

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