| Follow us on TWITTER: twitter.com Like us on FACEBOOK: www.facebook.com On October 22, Lang Xianping, an economics professor at the Chinese University of Hong Kong, gave a private talk in Shenyang City in Liaoning Province. He cited statistics showing why the Chinese Communist Party (CCP) is trapped in an economic crisis and is at brink of bankruptcy. Some scholars say that Lang's conclusion is not surprising at all, for they themselves hold the same the view. Lang Xianping's speech, which was widely circulated online, pointed out that the CCP's official published growth rate of 9.1% and its inflation rate of 6.2%, are false. Instead he says, China as a nation, is bankrupt. Lang Xianping: "The 9.1% figure is false.The inflation rate of 6.2% is also false. Inflation has reached at least 16%! Do you know how to calculate the gross domestic product (GDP) figure? Nine minus six. The actual growth rate, according to the CCP's data, should be less than 3%. What if the inflation rate was 16%? What's the GDP growth rate? Minus seven percent. The situation is this serious." Professor Lang said that all of the CCP's current policies are covering up the deep, murky reality of China's economy. He cited the Purchasing Managers Index to explain that back to early July, China's economy entered a recession. Lang Xianping: "The Purchasing Managers Index, which was just released, showed a reading above 50. This indicates normal economic growth, while below 50 means the country is entering ... |
