If you aren't following the Chinese debt crisis, you at least need to know it is there. We will see a huge economic collapse in China, with ripples throughout the world.

Remember the people in Washington believe in never letting a crisis go to waste. We saw what they did with the lockdown. What will they do with an economic crisis that is 2008, but an order of magnitude greater?

You have the perfect storm brewing. Xi is clamping down on the free market. The Chinese companies are completely over-leveraged.

It also looks like Evergrande only bought itself another week with a partial payment.

Tim adds:

Part of the reason the Ruling Class was so desperate to get rid of Trump was his tariffs and other Chinese policies were really squeezing the Chicoms. Trump was emulating what Reagan did to the USSR. The Left had taken great pains to turn China - a third world tyranny - into a global power through sweetheart trade deals and Most Favored Nation status. Shoot, we were STILL giving China "develoopment money" which we were borrowing from them! Mad Halfbright actually said it wasn't good the U.S. was the world's lone superpower and those people set about making China our "balance". But it was all fake and phony. China succeeded because we gave ourselves an economic lobotomy. But now the nudity of the emperor is coming to be seen. China never was the economic monster so many thought it was. It had a roaring economy mainly through money manipulation and our unwillingness to respnd in kind. At any rate the Ruling Class got rid of Trump in no small part because they had carefully laid out this plan with China as the great manufacturing center and now it is going belly up. We are in what is probably the most dangerous period in human history as a result. If you believe China unleashed Covid to hurt the U.S. you ain't seen nothing yet. I fear we are facing worldwide economic collapse and the biggest war in human history will follow. China will not go quietly into that good night.

1 No, they won't. Meanwhile, our Democrat Party is preoccupied with re-arranging the deck chairs on the Titanic.

The first mistake we made with China was letting them have Hong Kong back. Hong Kong was an economic powerhouse and China might not have gotten nearly as far as it did if it hadn't been able to slurp up Hong Kong. This is speculation on my part, of course.

2 Oh, I agree; the deal the British cut was dreadful. It handed an economic powerhouse to the Chicoms, who wisely let it run as it had for a time.

Now they are subsuming it into China proper and wondering why their economy is starting to slide.

I would add using capitalism for a time is an old trick of the Communists. Lenin instituted his New Economic Program which allowed free markets and it saved Russia from economic collapse. It also created the Kulak farmers in the Ukraine - whom Stalin murdered in the forced famine.

That is all China did in the last twenty years. They are not capitalists.

I think that's also why they will move against Taiwan; they need to absorb Taiwan's economy to keep theirs going.

Korea better start worrying too.

Japan is starting to rebuild it's military. I strongly advise that.

3 Yes, I agree that Japan should re-arm, and in a better world we'd be helping her do that very thing.

Speaking of China's condition, didn't I read somewhere (I don't think it was on this site) that North Korea is exporting coal to China? Imagine that!

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5 I've read that too Dana. It's probably true. And Kim wouldn't care if a few more of his slaves citizens freeze to death.

If I were any country in Asia (and Australia) I would arm up.

6 Yeah, me too. And if Xi goes after Taiwan, they are screwed. Even if we decide to help them, with our current military we couldn't swat a fly.

7 China will take Taiwan if and when they please. Our response will be anybody's guess. The only thing we can say with near certainty is we won't stop them.