Do the BBC have their facts right??

[geared]

They just ran a piece on the Chinese economic slowdon and Debt, their figures were pretty immense.

 

http://www.bbc.co.uk/news/business-34061590

 

Unless I've read it wrong:

 

Debt to GDP ratio 282%

$28 Trillion (debt)

 

That can't be right surely???

[Obelix]

They just ran a piece on the Chinese economic slowdon and Debt, their figures were pretty immense.

 

http://www.bbc.co.uk/news/business-34061590

 

Unless I've read it wrong:

 

 

 

That can't be right surely???

 

That's about right. They like printing money to some extent.....

[Alcoblog]

I think Amey are re-surfacing all the roads in China, as well as re-pointing the Great Wall. That should account for most of it.

[Anna B]

That's what I heard, (Robert Preston on Newsnight)

 

What make you think it's not right?

 

The whole world runs on credit - it's how the banks like it, it makes them very, very rich and very, very powerful.

[sakho]

They just ran a piece on the Chinese economic slowdon and Debt, their figures were pretty immense.

 

http://www.bbc.co.uk/news/business-34061590

 

Unless I've read it wrong:

 

 

 

That can't be right surely???

 

According to a new report by the McKinsey Global Institute (MGI), China’s debt has quadrupled from $7 trillion in 2007 to $28 trillion as of mid-2014, reaching 282 percent of gross domestic product (GDP) and higher than the level of the United States. Continuing its current pace of growth would see China’s debt reach 400 percent of GDP by 2018, the equivalent of Spain.

 

http://www.mckinsey.com/insights/economic_studies/debt_and_not_much_deleveraging

[Anna B]

You can almost hear the penny dropping...

 

This is the real recession...

[Guest]

Its all a load of cobblers to me. Have people stopped wanting stuff? aren't there any people with the capacity to provide the stuff? no and no. What's all the fuss about?

[drummonds]

According to a new report by the McKinsey Global Institute (MGI), China’s debt has quadrupled from $7 trillion in 2007 to $28 trillion as of mid-2014, reaching 282 percent of gross domestic product (GDP) and higher than the level of the United States. Continuing its current pace of growth would see China’s debt reach 400 percent of GDP by 2018, the equivalent of Spain.

 

http://www.mckinsey.com/insights/economic_studies/debt_and_not_much_deleveraging

 

ah so that's what ed balls and alistair darling have been doing in their spare time. moonlighting in the chinese finance ministry.

[Anna B]

ah so that's what ed balls and alistair darling have been doing in their spare time. moonlighting in the chinese finance ministry.

 

Somehow I don't think you're going to be able to blame the Labour party for this one, but well done for trying...

[El Cid]

Somehow I don't think you're going to be able to blame the Labour party for this one, but well done for trying...

 

The Tories would give their right arm for growth like they have in China, you wouldnt think it possible, with all that borrowing, they must have been borrowing more than the UK for many years.

 

Few things better illustrate the difference between the state of China's economy and that of the rest of the world than the fact that its newly announced GDP growth figures of 7.6% were analysed as a "slowdown". In any other major economy this would have been considered blistering growth threatening overheating. Instead, it is clear China has room for further stimulus measures in the second half of the year.

 

http://www.theguardian.com/commentisfree/2012/jul/13/china-economic-success-example-world