Despite the year 2017 has passed over but the consequence still remains on the tracks and continues obsessing the world to 2018, actually, the US, China, and the other wealthy countries are the hubs of the global economy, it could influence the world. Nevertheless, the debt becomes the big issue of the planet.
According to the report written from the Institute of International Finance warns, there is just in the third quarter of 2017, the global debt accelerated to a record is up to $USD 233 trillion, it is more than $USD 16 trillion higher from the same time of the end of the year 2016. The private non- financial sector debt hit notices in Hong Kong, Canada, South Korea, Switzerland, and Turkey. Therefore China and Turnkey rose the inflation that added more debt and threatening the global stabilization. The deep debt is anxious the global financial firms as Central Banks are trying to increase the interest rates, it is the solution to reduce the borrowers. Therefore, the temporary solution is just like using a common cold tablet cures cancer. When the national economy being declined that causes the venturesome borrowing and the deficit adds up while the GDP conflicts against the economic growth and the borrowers couldn’t repay, even the annual interest.
China debt couldn’t conceal the real problem of socialism despite Beijing spread the hand worldwide since the US president Richard Nixon visited in 1972, nowadays, the overseas assets of China estimate $USD 23 trillion, mostly the financial firms, shareholder, and properties. The global economic terror’s strategy of the leading communist country in Asia after Soviet-Union and total Eastern Europe Communist Bloc collapsed that failed. Obviously, China survived by applying the capitalist economic management by amalgamating between the Karl Marx (or Maoist) economic and democratic pattern that called” the free market is led by socialism”, but it is just temporarily succeeded because the socialism centralizes the economy holds in communist party so it couldn’t fit with the free market and private sector. China constrains the free market marries with the socialism that is like North Korea’s noodle forced flour mixed the grass and now the free market divorced the socialism.
The US has total debt is $USD 19.8 trillion left by Obama, but the US is the most wealthy nation in the world, so the economy temporarily declines that is like a champion athlete has been struck by common cold, it is possible the US economy could recover the recession in the short time. President Donald Trump is the man that the US people need to make America great again. There is just nearly a year, President Donald Trump has done the great achievements. The US also the land of global currency, the USD embodied the most credit currency in the world, so when a giant being not well, the world feels sick. Nevertheless, after President Donald Trump getting the office, the US has begun the restoration the economy that plummeted in 8 years ruled by President Barrack Obama who made America worst off ever in history. The US people don’t need a rhetoric president as Barrack Obama who talked a lot but did nothing so” Yes we can” turned” yes we couldn’t”.The black unemployment fell to 6.8%, the lowest record since 1972, instead, in 8 years, the black president helped the black people on food stamp.
China is a new power emerges, the vestige of communist in Asia survived by the tactic” lizard changes skin”. The period marked from 1949 to 1972, the inhumane regime faced into the low tide of revolution, certainly, Mao Tse Tung failed badly the socialism and also its Maoist’s doctrine, so China’s economy worsened but the bloodshed occurred with more than 65,000,000 people killed. The capitalist or counter-revolution rescued the outstanding theory of Karl Marx or Maoist. China stole the free market’s management, technology, but China communist is shameless, they have no confessed the failure of Maoist, instead Beijing prides the stolen theory as the success of communist.
The rapacious ambition plus the global hegemony back Han’s invasion tradition cause China involves the economic, arms race. However, the product made in China and the counterfeits couldn’t help China develops the economy in a long-term. China aims and conspires to kill the counterparts by the cheap product, therefore, the global consumption distrust anything made in China, even the foreign companies made in China too. The global economic terror of China has been unmasked, the world consumer boycott China’s product because of the poor quality, poison, and contamination, actually, the short life product cost too much money when a China product replaced many times in the guaranteed period.
Nowadays, China is facing the deep debt that is up to $USD 23.6 trillion in the first quarter of 2017, the deficit of China increased about $USD 1 trillion while Brazil increased $USD 0.6 trillion and India is $USD 0.2 trillion. China emerges as the top debt in the world, Beijing surpassed over the US, so recently China has been fallen into the quiet, actually, the protection policy of President Donald Trump would cost China closes more company, nowadays, in China’s mainland appears the ghost towns as the US occurred under the era of President Barrack Obama. The debt of China is up to 300 percent GDP, but China’s economic situation is quite different from the democratic countries, so the socialism fails to control the free market, it is the disaster of the leading communist country in Asia ./.