How China Fooled the World

The BBC in the United Kingdom has aired a program this week titled “How China Fooled the World – with Robert Peston”

It re-enforces many of the posts we have made over the years and is well worth a watch.

» How China Fooled the World – with Robert Peston – The BBC.
» Credit equals Gold No 1. – 29th January 2014.
» GFC2 – Will it be made in China? – 30th June 2013.
» Fitch says China credit bubble unprecedented – 18th June 2013.
» Concerns on China’s property bubble – 4th March 2013.
» China property bubble close to ‘Tipping Point’ : Zhiwe – 28th September 2011.
» China’s chief auditor warns of mounting debt – 26th June 2010.


  1. A great watch, oddly cheerful.

    The tricks of central banking are well known now, and translated into every language.

  2. I hope that my bank doesn’t have my savings exposed to the Chinese shadow banking system. I’ll be rather annoyed if they do.

    I find it ironic that people refer to Chinese political system as a Socialist system yet there is virtually no social safety net (as noted by Robert Peston). You know the sort of people who would call Barack Obama a Socialist and a Communist. If you were to draw a venn diagram there would be very little overlap between those two sets.

    In any case China has turned from a Communist state into a gangster state, run for the benifit of the CCP officials.

  3. It hardly matters whether the Chinese bubble pops first,
    which will bringing down US, Australia and the rest,
    or if US or Japan or UK or EU bubbles pop first,
    bringing down China, Australia and the rest.

    What difference does it make at this stage whether China goes belly up first, bringing down the EU, US and us down here? Or whether its the Japs or the Brits, or the Yanks or Europe going t*ts up first, cratering Australia, China, the rest of the BRIC’s etc etc. We’re are so up the creek without a paddle either way…

  4. We are at the point where seemingly every country has amassed huge debts. And who do we owe the actual money to? The answer would be the banks of course, and it would appear they are perfectly happy with that. Nice work if you can get it.

  5. Ford. Gone.

    Holden. Gone.

    Toyota. Gone.

    8000+ gone.

    50% job loss in mining. 100 thousand jobs

    20%-30% reduction or wage freeze.

    White goods gone.

    5000 from qantas

    Multiply that by the supply chain. Prob 500-1million jobs lost. 10% probably more

    Yet house prices are going up 10-20% a year? Yer lets see how that works out for you Australia haha.

    900-1mill for a 180m2 block that has a house falling apart from the 60’s on it. That’s value for money!

    I think I posted earlier that Australia is about to be ass raped this year 2014 bar the govt going ‘duhhhhh lets get rid of capital gains tax on houses and make negative gearing pay out double’

    Keep screwing everyone Australia it’s all you seem good at.

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