Geldzug: CHINA IS NOT GOING TO SAVE THE WORLD THIS TIME

4 February 2021 In November 2008 a panicked Chinese government launched a stimulus package equivalent to 12% of then GDP. The package propelled China out of the GFC, but it created more problems than it solved, e.g.: A tenfold increase in corruption Useless or non-economic projects: “bridges to nowhere” A surge in banks’ bad loans A sharp increase in the ratio of debt to GDP Unsafe buildings, and highways that collapsed