China (PRC)’s falling economy, what would happen next?

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Kyoko

Studying the history of Chinese dynasties, according to an academian, there are always 8 step transition as below.
1. Establish a new dynasty
2. Purge followers
3. Conduct wars of aggression
4. Modify Chinese characters and fabricate the history
5. Surroundings and bureaucrats become corrupt
6. Arise many secret societies and farmer riots
7. Military clique intrude to the capital
8. Return to 1

As they have constructed a huge number of ghost towns, local governments and PLAs could not have earned cash flow, however they have to make interest payments, they put varnish on the export amount in order to get fake funds. This is the reason why the export amount to HK and Taiwan shows exponential increase even though the import amount of HK and Taiwan from China are decreasing.
To make out with rollover, inter-bankâs short-term interest rate âovernight rateâ once spiked up to 13.4% temporarily. It was really crazy.

Chinese local government and PLAs have to dress up their balance sheet, hence they produce high yield âwealth management productâ via èè³å¹³å°( finance platform) equivalent term for shadow bank, that could change the fake bond to real money for them, however the people who bought those products would drop their money. No one could forecast the total amount of those uncollectible loans. But it is estimated 1.55 trillion US Dollar minimum to 3.2 trillion US Dollar, those figure exceeds Chinaâs foreign currency holdings. CCP, at last, decided to hide the economic figures such as amount of steel deals, electric consumption amount and so onâ¦
CCP also forced Chinese medium not to report about the fund shortage which cause of rising interest ratesâ¦

Paul Krugman mentioned in a commentary article in the New York Times, âChinaâs low-consumption, high-investment economy is a kind of Ponzi scheme. Chinaâs economy as working like a bicycle, it falls over if it stops moving forward. Right now, Chinaâs Ponzi bicycle is running into a brick wallâ.

Since Chinese Yuan holds dollar peg system, Quantitative Easing of FRB is a must for CCP, because they could print Yuan only keeping pace with FRBâs QE in order to increase money supply to the market, that the reason why CCP begged US like a dog not to stop their QE at Moscow G20 in July. But this might cause a dramatic inflation, people would suffer from it.
On the other hand, if CCP decrease money supply to avoid intensive inflation, a lot of big companies might be bankrupted.
What do you think?
@Mr. Liu -- Thank you for your great answer, especially in the problem of unemployment. Do you have any trusted figures of unemployment rate? I hardly saw it in the news. The jobless is a really serious problem in every countries, particularly in the society with small freedom. I really hate the whole system of PRC, and I hope good change might rise up in near future.

@We left and returned! -- sorry, I have no idea..

@Dog Lover -- I have no interest about your post but feel uneasy if your "magic system" means a war. There are no magic wand in economic science.
@Mr. Liu -- Thank you for your great answer, especially in the problem of unemployment. Do you have any trusted figures of unemployment rate? I hardly saw it in the news. The jobless is a really serious problem in every countries, particularly in the society with small freedom. I really hate the whole system of PRC, and I hope good change might rise up in near future.

@We left and returned! -- sorry, I have no idea..

@Dog Lover -- I have no interest about your post but feel uneasy if your "magic system" means a war. There are no magic wand in economic science.
@eiji -- No, "what happen to china right now" derive from China's internal plobrems, not (or small) from "external factor".
You must reap what you have sown.
But I doubt you actually understand Chinese situation well.

Answer
Yes you are right, the inflation rate and the rampant corruption in China creating so many problems in China right now. CCP has been so long launching the unfair trading policy which makes China suffer its own consequence. China has to suffer the consequence of its own mistake for not playing fair trade like the rest of the world does. Overproducing and dumping policy of China contributes to the trading deficit of China. As the result of trading deficit, China cannot sustain its economy anymore and economy of China will be collapse.

You forgot to mention that the CCP keeps over printing the Yuan which contributes to China's economic down fall, here is the prove:
http://www.nytimes.com/2011/01/12/business/global/12yuan.html?_r=0

And not even to mention that China lost its jobs to the other countries like Vietnam, Bangladesh, Indonesia, Thailand, Malaysia, etc. due to the inflation and the labor wage increasement. As the result, the unemployment rate in China is staggering and many Chinese lost their jobs. More and more Chinese cannot find jobs because of the inflation rate, especially the poor migrant workers.

Property and housing bubble are also become problem due to the inflation, more and more Chinese cannot buy house and buy properties. As the result, more and more Chinese are homeless because they don't have enough money for buying house. More and more Chinese are getting poorer because they don't have enough money to buy the property.

Then, the gap between rich and poor in China is getting wider. Rich people getting richer, and the rich ones are going to the overseas to escape the madness in China. While the poor ones are still very poor, they suffer too much while they never get any care from the CCP. The poor ones are the ones who affected the most by the madness going own in China, poor people in China are treated unfairly by the CCP. The CCP only favor the rich ones while ignore the poor ones, poor people are often become the victim of CCP.

You can check the real figure of China unemployment rate here:
http://www.businessweek.com/articles/2013-07-26/divining-unemployment-in-china

Do i need emission test on my car in Ct?

william r

i am buying a 1997 car,do i need a emission test to bring to DMV,someone told me since its over 10 years i dont need it.I live in Connecticut

Answer
You will have to get this done for your vehicle.

Exempt Vehicles

There are some exemptions to the program, particularly newer models, many older vehicles, motorcycles and other specialized vehicles:

New vehicles that are four or less model years old (as of 1/1/12, model years 2010, 2011, 2012 and 2013).

A motor vehicle twenty five-years old or older, (C.G.S. 14-164c © âtwenty-five or more years agoâ shall mean the number of years arrived at by subtracting the model year of the motor vehicle seeking the exemption from the current calendar year).

Vehicles with a gross vehicle weight rating of more than 10,000 pounds.

Composite Vehicles (Effective July 1, 2007) (vehicle must be registered as a composite vehicle).

Electric-powered vehicles

Bicycles with motors attached

Motorcycles

Certain vehicles registered but not designed primarily for highway use

Farm vehicles

Class-1 School Buses

Vehicles with Dealer, Repairer, or Transporter Plates while official tests are obtained

http://www.ctemissions.com/exempt.html

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