What Perry said is backed up by Gordon Chang, a regular on the John Batchelor Show, who for 2 years has been calling the China boom a fraud, with city after city of empty skyscrapers funded by the Cinese central bank. He also said Chinese banks are lending money to businesses with a staggering 40% failure rate! Truly a recipe for disaster.
Gordon Chang has not been saying this for two years, but for 15. Although I do not necessarily disagree with him, he lost a lot of credibility when he said China was on the verge of economic collapse a decade ago.
I find it interesting what is being said about China in the transcript. It agrees with my memories from the Mid-1960’s of Taiwan and even Okinawa. In other words it’s much the same now as it was then. Same attitudes, same way of doing business and by that I mean the attitude and methodology of management practices.
Tom Clancy once wrote that he though of China as a Three Foot country it looks great from a distance until you get to within three feet and you see how sloppily it’s put together.
Of course the ChiCom econ miracle is a massive fraud, Commies and Islamos always LIE!
I’m hoping that the next Conservative President will tell the International Commies that ‘We will Bury You’ just like Reagan did!
Dr. Jack Wheeler has also been saying this about China.