GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Tuesday, November 5, 2013

Debt and overcapacity in China

To maintain its high levels of GDP growth in the wake of the global financial crisis, China instigated a huge financial stimulus. That money was meant to go on infrastructure but in reality, most of the spending went on industrial capacity. CLSA's China strategist Francis Cheung tells the FT's Josh Noble that the problem of excess capacity is only going to get worse

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