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n. Illinois | You think China is disclosing the extent of their true Debt?
They have massive cities built up with no one living in them. everyone of them is built upon borrowed money, They have intertwined financial relations where the local government is borrowing money on top of the money borrowed by the productive companies. where they then count the borrowed funds as an asset to both the government entity and the productive company. If you think that they use GAAP accounting your in for a rude surprise. | |
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History of tariffs.
