How China Pays off Debt – In Praise of China
Creative services provide new career options on China’s internet
People offering their time and skills on the internet for a fee is becoming a new way to embark on a new career in China. Whether you need a morning wake-up call, someone to accompany you to a plastic surgery procedure or driving practice, or if you have a stack of garlic that needs peeling, you can find someone on the internet offering their skills or at the very least their time, reports our Chinese-language sister paper Want Daily. An internet user with the handle Zhangxiaohua claims to be able to peel garlic skin very quickly and offers the service at 100 yuan (15.70) a time. One of the most popular services available on Taobao is provided by a model called Chen Xiao, who is available on a per-hour basis to perform tasks like picking up a friend, delivering coffee or buying a train ticket on the customer’s behalf. Obscene requests are rejected.An internet user going by the name Nini offers a morning wake-up call and to accompany people going through a heartbreak. More
That’s why the Chinese Government can issue as much debt as it does: before it issues the bond it always creates an offsetting revenue stream that will service that bond. Here’s a snapshot of China’s debt compared to the rest of the world:
China How China Pays off Debt the old-fashioned way: it doesn’t borrow until it can structure the deal as a win-win. These are non-predatory deals. There are no victims, no losers in deals like this.