Seems normal compared to most developed countries.
Edit: Forgot to add India which is at 87% right now so 10% higher than China.
Chinese Economics Thread
- Thread starter Norfolk
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Edit: Forgot to add India which is at 87% right now so 10% higher than China.
This isn’t 14% budget deficit, it is augmented fiscal deficit which includes land sale proceeds as a financial item and excludes SOEs and their profit.
The video is real but the description is false
So what is the real situation behind this video that got @zhangjim soo worked up.
AFAIK there was some financial fraud involving village banks that resulted in frozen accounts with investigation underway. Some protesters decided to block Bank of China which isn’t involved in the case and were arrested as seen. Account holders are being promised to get their money back. Not sure if these are investment or savings accounts, if the former account holders themselves should be partially responsible imo.
When and where did this happen? And has the problems been resolved?
I repeat, what I hate is the way this kind of problem is handled.Using people who don't wear uniforms to "solve" the protesters, but the government thinks they can get rid of the relationship by doing so, stupid idea.
What you see is the worst result of this matter.Last night, the government issued an announcement promising to solve the matter, but everyone was wondering whether it was true.
ahh Yes I Am Aware of the rural bank situation. So this is similar to people who were tricked into a Ponzi scheme, but thankfully will get their money back, but decided to block the Bank of America (which was not involved in this scheme) who decides to hire private security to disperse the protesters.
yeah I do agree the police should have been called. In the states the police would beat and pepper spray the protestors then put them in jail. maybe a couple would be sent to the hospital due to injuries. Maybe one would die, if someone who was carrying a firearm accidentally shot one off, or if they were black. would Chinese police do the same? I’m not kidding or exaggerating, cause that stuff happens in the states all the time.
It happened recently in Henan. Investigation is ongoing hopefully resolved soon.