Josh Sigurdson talks with author and economic analyst John Sneisen about the very prevalent debt that China’s currently facing as the IMF feels unnerved about its future.
The current debt in China is 3 times as big as the GDP.
In the next 3 or 4 years, China’s debt to GDP is due to grow from 235% to 300%.
This warning from the IMF comes just a couple of weeks after the IMF’s Christine Lagarde noted that the global monetary apparatus may move its headquarters to Beijing, China. As the IMF attempts to incorporate a digital centrally planned cashless system into the SDR global currency, China also leads the pack when it comes to countries pushing forward a cashless society alongside India, Australia, Sweden and places like Canada.
There is no doubt a power shift happening in the direction of the technocratic state of China as China builds and manipulates both its markets and monetary system into eventual oblivion. China is also attempting to break free from its dependency on importing and exporting.
As global fiat empires begin to crumble and fall, there’s no doubt that China will be a major player in the enforced monetary revolution to come which is why it’s that much more important for individuals to try and lead the monetary revolution themselves, outside of central planning and legal tender laws.
Stay tuned for more from WAM!
Video edited by Josh Sigurdson
John Thore Stub Sneisen
Graphics by Bryan Foerster and Josh Sigurdson
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