China's Structural Problems Have Not Been Solved.

< p > the two major problems of China's economy, structural problems and high leverage in the financial sector, these two problems are continuing to deteriorate. < /p >
In terms of P < a href= "//www.sjfzxm.com/" > structure < /a > sexual problems, China is still highly dependent on fixed investment economy, and the position of ordinary people in GDP is low to negligible. Fixed investment is nothing more than two aspects: government's infrastructure investment and real estate investment. To determine the intensity of infrastructure and real estate investment, iron ore imports, iron and steel industry inventories and steel prices are the best data. China's iron ore imports in 3, 4, 5, 6, 7 and August are 6455, 6715, 6815, 6230, 7314 and 69 million 10 thousand tons respectively, and the July record is the highest since record, and June is the lowest. In the past three months, the price of reinforced steel used for construction on the Shanghai futures exchange has increased by 10%. < /p >
< p > the total investment of new projects in real estate increased by 45% in July, the biggest monthly value in 4 years, although 20% in August, but the main reason is the hot weather and the construction site holiday. < /p >
< p > according to data from Shanghai steel home information company, as of September 6th, the stock of steel held by Chinese traders has dropped to 6 million 450 thousand tons, up from 10 million 200 thousand tons in March. < /p >
< p > squeezing the real estate bubble, curbing speculation, curbing the bloodless exploitation of the real economy in the financial sector, stopping the infrastructural investment in inefficient and negative cash flows, and no longer taking credit expansion and substantially increasing the old road of debt and stimulating the economy, that is the right direction. < /p >
< p > another high leverage in the financial field. After 6 months of financial shortage, financial institutions began to leverage, but in fact they did not. In recent days, Fitch reports that China's economic leverage will continue to rise rapidly. Now lifting leverage or any form of credit contraction is wrong. China's M2 grew by 14.7% in August, up from 14.6% of the market expectation, while the total social financing scale was 1 trillion and 570 billion yuan, almost 2 times the size of July. China's economy is already addicted to credit. Between 2007 and 2012, total credit accounted for more than 190% of GDP, an increase of 60 percentage points. China's recent credit growth accounts for a much larger share of GDP than the credit bubble experienced by Japan or Lehman Brothers before 1980s. < /p >
< p > Goldman Sachs reported earlier that < a href= "//www.sjfzxm.com/ > > China < /a > Enterprise leverage accounted for a rapid increase in the proportion of GDP, reaching 130% in 2011, which is one of the highest leverage ratios in the world. < /p >
Yao Wei, economist at the Societe Generale Bank (601166, stock bar), made a more startling prediction that the sum of principal and interest of Chinese enterprises loans is about 38.6% of domestic GDP, equivalent to about 3 trillion and 200 billion US dollars to repay debts, according to Fitch's warning of China's credit bubble. P By the end of 2017, China's debt to GDP ratio will still be close to 250%. China has no signs of deleveraging. It is expected that the new loan will reach 21 trillion yuan in August this year. This will be the GDP of China's new loans exceeding 1/3 in fifth years. Last year, China's debt scale was equivalent to 3 trillion and 400 billion US dollars. < /p >
Zhu Baoliang, chief economist of the Ministry of economic information of the state information center, said on the day before that, the scale of China's debt was overall controllable. However, individual governments may have problems and prevent problems like Detroit, the United States. P He predicts that China's M2 is more than twice as high as GDP, and the local government debt is about 20 trillion yuan (US $3 trillion and 300 billion). < /p >
< p > if Zhu Baoliang's forecast data may be somewhat abstract and incomprehensible, Yao Wei's debt service ratio (DSR) should show China's troubles more intuitively. Because once an enterprise begins to repay its debts, it leads the country to a vicious circle. The more loans that are used to repay debts, the less real investment income and more debt. < /p >
The lessons of other countries tell us that eventually such a cycle often leads to credit exhaustion. < a href= "//www.sjfzxm.com/" > Enterprise < /a > P has no choice but to default. < /p >
< p > terrible is not that the crisis is coming, but 99.999% of Chinese do not believe that the crisis will come. 99% of the Chinese people only watch erotic news, gossip, enjoyment, sexual promiscuity, auto shows, milk shows and erotic advertisements. They are all junk online games. < /p >
< p > just like the late period of the Empire of Rome, not only the slave owners of the Rome empire but also the middle class civilians of Rome Empire have serious extravagant psychology. Although Rome civilians are not rich, they are extremely materialistic and have serious illusions about luxury life! {page_break} < /p >
In the age of empires, the middle level civilians in Rome had long been separated from labor and lost their last interest in labor. They were extremely enthusiastic about speculation and speculation, and did not want to engage in any work at all. P As a common people divorced from labor and lost interest in labour, they must become lazy. For a flat headed people, laziness is the root of all decadent and depraved ideas. And some stupid policies of the Rome government also aggravate the pleasures of Rome's citizens. The Rome Empire has various festivals every year. Every festival, the Rome government will organize revelry and let all Rome citizens take part in it. The Rome government will hold a grand carnival every few years and more than a decade. The carnival scale of the Rome Empire lasted for a long time, so that no one could imagine it. In 106 ad, Tulamo celebrated the conquest of Western Asia for 123 days, which is not the longest Rome carnival. In fourth Century, a high-ranking official held a celebration for his son. He spent 2000 pounds of gold in 7 days. During the carnival, the government will not only provide free food, drink, and play to Rome citizens. In this period, Rome citizens can also indulge themselves. < /p >
Less than P, today's frenzy has no basic fundamentals, such as the growth enterprise market, boring TV shows with full mistakes, full screen singing talent shows, civil servants, profiteering real estate and luxury goods industry. This is the carnival provided by the Rome government for Chinese people. < /p >
< p > Carnival shows that even the imperial government of Rome has recognized the luxury of Rome. Carnival is the social wealth of the Rome government holding Rome slaves and using blood and sweat to praise Rome's national luxury and luxury. "/p".
< p > although Rome civilians can not satisfy their luxurious pleasure in material matters, they can always try their best to satisfy themselves in spirit! < /p >
The Romans in the era of P Empire were not only extremely extravagant but also extremely dissolute. Since the late Republic of China, there has been an endless stream of bad practices such as prostitution, homosexuality and incest in Rome. Even later, the Rome Empire also had prostitutes festivals, gay days and other absurd holidays. After entering the Empire era, although Octavius, the first emperor of the Rome Empire, once banned all acts of promiscuity with decrees, nothing has been achieved. Even Julia, Octavius's own daughter, is extremely dissolute and has no way to live. For this reason, Octavius had made a great effort to kill relatives and exiled his daughter to kill chickens and worship monkeys. But Octavius's move failed to change the trend of Rome's imperial citizens' promiscuity. No one in Rome has been aware of the danger of the promiscuous folk to the empire ever since Octavius. In fact, since Octavius, many emperors of Rome and most of Rome's civil and military officials have been dissolute. < /p >
< p > the empires in Rome are not only men, but women in Rome are also very lustful. They are wives and mothers, but they are doing extra marital affairs. In the Rome Empire, it is not unusual for a young girl to be unmarried and unmarried. In Rome, the fornication of the empire is not an immoral and corrupt behavior. Instead, it is a "fashionable", "advanced" and "tasty" way of life. If a friend does not believe in the above statement and thinks that he exaggerates, there is an authoritative history in the West called "the history of the decline and fall of Rome". It is a representative work of the famous British historian Edward Gibbon in eighteenth Century. He can look it up himself! < /p >