by Athens News
A file photo of Taiwan-born finance professor Larry Lang Hsien-ping (Reuters)
Chinese academics hardly ever make any negative references when they speak publicly about the state of the Chinese economy.
In this context, the recent public lecture of Professor Larry Lang, who reportedly said that the country’s GDP is going in reverse, is remarkable.
According to the Epoch Times, Lang, who holds the chair of finance at the Chinese University of Hong Kong, said [...]
Chinese TV Host [Chair Professor Of Finance] Says Regime Nearly Bankrupt (November 13/16, 2011)
“Larry Lang, chair professor of Finance at the Chinese University of Hong Kong, said in a lecture that he didn’t think was being recorded that the Chinese regime is in a serious economic crisis—on the brink of bankruptcy. In his memorable formulation: every province in China is Greece.”
China’s defence budget will rise 12.7 percent in 2011 to 601.1 billion yuan ($91.7 billion), a government spokesman said on Friday, amid persistent concerns about Beijing’s military build-up.
The figure was contained in a budgetary report submitted to the National People’s Congress, the parliament’s spokesman Li Zhaoxing told a news conference on the eve of the opening of the annual NPC session.
“China has always paid attention to controlling [...]