Chinese Economy is in CRISIS !!!!!!!!!!
China's vigorous economic growth in recent years has led to a bubble economy on the verge of collapse, according to Strategic Forecasting Inc. (STRATFOR), a leading private intelligence service.
In its latest Decade Forecast report, STRATFOR claims China's economy is already on life support - with an estimated $500 billion in bad debts threatening its banks, rapidly rising unemployment, widespread government corruption and mismanagement, and dwindling foreign investment.
"Capital flight by Western investors has already begun," the 2005-2015 Decade Forecast notes. Asian investors have been stepping in to fill the gap, "but they will be unable to sustain adequate levels of investment for very long."
A flood of foreign investment in recent years masked the Chinese economy's underlying weaknesses, STRATFOR says, but that won't last.
"Already there is dissent forming in the international community, and the need for quicker profits is driving companies and investors to look elsewhere."
Looking ahead, the STRATFOR Decade Forecast for 2005 through 2015 sees China's economic growth continuing to decline, leading to increased internal tensions as well as social upheaval and violence, which the central government in Beijing may be unable to control after 2008.
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