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| China-Japan-Koreas |
| Guess where this was censored: "The housing bubble has become a tool for the ruling class" |
| 2013-10-25 |
| In “China’s Housing Bubble Born to Burst,” a well known Chinese financial commentator and columnist states that the communist regime’s totalitarian economic system will cause an impending economic crisis in China. Niu Dao is an award-winning blogger who is a financial commentator on the state-run CCTV, a consultant to Essence Securities, and a teacher at Tsinghua University. His post on Sept. 26 warns that the coming crisis will bring disastrous consequences. In a subsequent Oct. 8 article, which was deleted from the website Sina shortly after it was published, Niu explained that the Chinese people’s human rights are not protected at all under the communist totalitarian regime. In a sense, the Chinese people are not citizens, but veritable “residents”—they are nothing without a dwelling. That is the main reason why the Chinese Communist Party (CCP) dares to magnify the housing bubble indefinitely, and why the Bank of China dares to print money wantonly, Niu wrote. The housing bubble has become a tool for the ruling class to plunder national wealth. Niu wrote that asset price bubbles are also bound to burst; and, as the rule goes, the larger the bubble, the greater the damage. Chinese people who think real estate investment could be their inheritance will eventually discover that under the CCP real estate is merely used as a tool to artificially increase the value of capital. In the over 20 years since Japan’s asset bubble burst, it has had 13 different prime ministers. For China, Niu wrote, it won’t be an issue of a change of prime minister, but rather the fall of the regime. China’s bubble is even bigger than Japan’s bubble was back then, according to Niu. At the China Forum during the 2013 APEC Summit , CCP State Council counselor Xia Bin said the phenomena of financial crisis already exists in China. Some local governments became insolvent long ago, and are merely surviving by taking out more loans. The crisis has not yet exploded, and bad debt has not yet been exposed, because they have been covered up by issuing more currency, Niu wrote. |
| Posted by:Anguper Hupomosing9418 |
| #3 Other than the names, this article could've been written by and about the US. Eerie, isn't it? |
| Posted by: Anguper Hupomosing9418 2013-10-25 21:37 |
| #2 Other than the names, this article could've been written by and about the US. |
| Posted by: Bobby 2013-10-25 14:04 |
| #1 and why the Bank of China dares to print money wantonly Clever little pun there... |
| Posted by: Raj 2013-10-25 10:57 |