Loading ...“If the tariffs come into play across the whole gamut of Chinese imports, then the export sector of the Chinese economy will be devastated. Remember that the export sector of the Chinese economy is the only sector of the economy that operates according to market principles and makes money. The rest of the economy is an old Stalinist state-planned nightmare. The Party itself consumes probably $1 trillion a year in wealth just on its salaries, on its resorts, on its vacations, on its foreign junkets, on the rest. So the Party itself is a great hurdle or handicap for the Chinese people that they have to carry a cross, carry through life.
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The second burden the Chinese people have to bear of course is the state-owned sector which loses trillions of dollars a year. All of the state-owned economic enterprises lose money. China Railway, for example, is $750 billion in debt. They built beautiful high-speed rail all over China. Not one of those high-speed rail lines is making money. Not one of them is paying back the money it took to construct the rail line, which was probably two or three times what it should have cost because of corruption — officials on the take at every level of government.”
https://www.zerohedge.com/news/2019-06-27/chinas-rogue-regime