Governor Brown of California traveled to China last week with some 90 of his closest friends.
Brown’s party included “mostly special interest…willing to pay $10,000 each, plus trans-Pacific airfare. The “trade and investment mission” included a lot of schmoozing and photo-opts. Brown took care to praise China’s autocratic political system while he was there.
The Chinese, in their infinite wisdom, know how to “get things done”—this in contrast to America, what with pesky annoyances like constitutional checks and balance and democratic accountability. (AND THIS IS A US GOVERNOR FROM A STATE WITH SOME OF THE MOST SCREWED UP REGUALTIONS IN THE USA)
“People here do stuff,” “they don’t sit around and mope and process and navel-gaze”,
Doesn’t it seem odd for a sitting Governor to sing the praises of Communist “efficiency.”
The Financial Times sounded the alarm on “out of control (Chinese government) Debt.”
Provinces, cities, counties and villages across s China are now estimated to owe between Rmb10tn and rmb20tn—that’s $1.6 trillion to $3.2 trillion, or “20-40% of the size of the economy.”
China is following California lead—going into debt at Mach speed.