China’s Collapse Is Coming, More So Now Than Ever - Gordon Chang
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The world’s second largest economy is on the brink of collapse, at least that’s what best-selling author and Forbes contributor Gordon Chang believes. Author of The Coming Collapse of China, Chang gave his outlook on the country’s economy, which remains grim -- more so now than ever. ‘Chinese leaders have the ability to defer crises,’ he told Kitco News. ‘As they defer them, the underlying imbalances in the Chinese economy are getting bigger, which means when adjustments comes -- which are inevitable -- they will be severe.’ To Chang, China is in more trouble now given America’s overall influence on the country’s economy. ‘[Donald] Trump and Janet Yellen have much more effect on what’s going to go on in China than Chinese technocrats, who are at the mercy of the United States right now.’ And when this collapse happens, gold will move higher, he said. ‘People are going to the dollar as a safe haven and they’re going to go into gold because that has traditionally been where investors go when they’re really nervous.’ Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: http://www.kitco.com/newsletter Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: http://kitcomm.com -- Or join the conversation on social media: @KitcoNewsNOW on Twitter: http://twitter.com/kitconews --- Kitco News on Facebook: http://facebook.com/kitconews --- Kitco News on Google+: http://google.com/+kitco --- Kitco News on StockTwits: http://stocktwits.com/kitconews
Comments
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I've been living in China for over 10 years. The Chinese economy is mostly built on asset bubbles (real estate, steel, cement, rare earths, etc...) fueled by debt money, it will work for as long demand keeps happening. Which is exactly why the government keeps building empty infrastructure and buildings, to fuel demand, most of these projects are funded 100% with borrowed money (we are talking about trillions of dollars poured into unprofitable projects here). Cracks and systemic problems will immediately appear when demand slows down (when the government runs out of money, this or hyperinflation of everything to Zimbabwe levels). Basically, China has avoided the 2008 crisis because they borrowed against their own future.
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According to Mr. Chang, China has been collapsing since 2001, when his book came out. LOL!
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America is currently buried under the ground. We hear alot of bullcrap on both sides. Until then, Im keeping most of my bets on the one who's actually moving forward
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Propaganda
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dont worry the us is the top of this economic house of cards when we fall so will everyone else, and i promise you our allies in europe will not even try to bail the us out.
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Uhm... dumb dumb, China is not "Second", it's first... USA doesn't make shit accept trouble. No, they're too stupid.
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I'll give the man some credit. Like he mentions in the video, China may actually have crashed already but it is very likely Chinese gov't covered it using its momentum. You never know, especially they don't have the same visibility as Western markets.
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Gordon has a personal axe to grind against China. Just wonder why he is still keeping his surname. He has been bitching for so many years and none of his crystal ball illusion ever happen. Hmmm,he must be a traitor from taiwan.
Gordon, stop ranting or you be awarded the title of super bitch. -
If it's true, USA's collapse would be right after.
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Holy crap China just announced there going to the dark side of the moon by 2018 ha ha.
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Gordon Chang, you have become a joke and everyone is laughing at you.
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Actually Gordon Chang is head officer of Strategy Department of China
who deceives westerner, he did a very good job! -
Wow, Gordon Chang has really aged! Must be all the great predictions done over 16 years! Had ONE of them been accurate perhaps he could be invited back more often and be given an award....Gosh! Life sucks for Gordon Man!
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lol..21 Century is China Century ...
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why people still trust his comment. look at USA debt.. trillions....I don't here people from China comment ...said to hear these untruthful biases comment by a person who beat a Chinese last name.
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