CCP collapse within one year

That is the prediction of Joshua Philipp when he was interviewed by American financial advisor Patrick Bed-David, who was visibly astonished by the “bold statement”. The recognized China expert and host of Crossroads as well as The China Report has deep insights into the global threats that pose Xi Jinping’s expansionist ambitions and his repression on the Chinese people.

In my research in the internet I find many other experts who predict the collapse of the CCP on grounds of economic mistakes, dissatisfaction of the population with media repression and surveillance, human rights violations, the refusal of CCP to reform and the coming famine. I predict a China-wide violent revolution.

Mr. Li Chuan Liang. former deputy mayor of Jixi City in Heilongjiang, Inner Mongolia fled mainland China for he was disgusted by the mismanagement and corruption in the CCP.

In America he speaks out: “The state authorities encourage local governments to build roads, railways, bridges, ports, factories and skyscrapers to pump up the economy. They all frantically borrow money from banks and the public to finance the projects. But many projects are not profitable which creates an ever mounting debt crisis. But the local CCP agents continue to invest in order to polish up their political record and get a commendation for boosting the national General Domestic Product. They create opportunities for corruption. They do not ask if a project is useful or beneficial to the local people.”

Li says: “Everything is fake. The ghost towns that they proudly call China’s Manhattan with more than 65 million apartments continue to sprout in more than 50 development zones. The world’s biggest deserted town is Ordos in Heilongjiang, built for one million inhabitants. But there are no people and no commercial activities and no hope that there will ever be life. They are just vanity projects.”

Li holds: “Every city has $10 to 20 million debt, that makes $10 trillion on the municipal level alone. I do not see how the cities can pay back the money. It will eventually become ‘bad debt’. In 2019 over 800 local authorities and agencies have failed to make repayments, a sharp increase of the 100 in default in 2018. Li says: We are not just near bankruptcy, we are completely bankrupt.”

Li further states: “The government is already struggling to pay the state servants. Veteran soldiers did not get their pension or got reduced pensions. The pension funds have run out of money. The unemployed and dismissed workers have absolutely no income, stirring up more trouble. The young in the workforce are now sustaining the older. That means they will have no pension when they get older.”

I add. And more so is China on the nation level. Due to mega projects like Beijing Airport, the run for the world’s highest sky scrapers, ballooning expenses for army and navy, the space program, the subsidies for state-owned firms and all the investments in the Belt and Road projects in foreign countries China‘s debt is growing exponentially. In 2017 already the International Monetary Fund warned China over its dangerous growth in debt. Also the shadow banks pose a problem to its financial system.

The Institute of International Finance estimated that China’s total debt hit 317% of GDP in the first quarter of 2020, up from 300 % in the last quarter of 2019 --the largest quarterly increase on record.

Erich Wannemacher

Lapu-Lapu City