Thread: China Banks Nearly Bankrupt: Every Province is Greece

China Banks Nearly Bankrupt: "Every Province in China is Greece"

Mike Shedlock
Nov 16, 2011

In one of these headline news stories that sounds shocking but is not shocking in the least, The Epoch Times reports Chinese TV Host Says Regime Nearly Bankrupt http://www.theepochtimes.com/n2/china-n ... 41214.html

China’s economy has a reputation for being strong and prosperous, but according to a well-known Chinese television personality the country’s Gross Domestic Product is going in reverse.

Larry Lang, chair professor of Finance at the Chinese University of Hong Kong, said in a lecture that he didn’t think was being recorded that the Chinese regime is in a serious economic crisis—on the brink of bankruptcy. In his memorable formulation: every province in China is Greece.

The restrictions Lang placed on the Oct. 22 speech in Shenyang City, in northern China’s Liaoning Province, included no audio or video recording, and no media. He can be heard saying that people should not to post his speech online, or “everyone will look bad,â€

Chinese TV Host Says Regime Nearly Bankrupt

By Matthew Robertson
Epoch Times Staff
Created: November 13, 2011Last
Updated: November 16, 2011


Larry Lang, chair professor of Finance at the Chinese University of Hong Kong. (Wu Lianyou/The Epoch Times)

China’s economy has a reputation for being strong and prosperous, but according to a well-known Chinese television personality the country’s Gross Domestic Product is going in reverse.

Larry Lang, chair professor of Finance at the Chinese University of Hong Kong, said in a lecture that he didn’t think was being recorded that the Chinese regime is in a serious economic crisis—on the brink of bankruptcy. In his memorable formulation: every province in China is Greece.

The restrictions Lang placed on the Oct. 22 speech in Shenyang City, in northern China’s Liaoning Province, included no audio or video recording, and no media. He can be heard saying that people should not post his speech online, or “everyone will look bad,â€