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>> CATERPILLAR INC. Latest News

JAN 23, 2013 - Zero Hedge

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Is China an Economic Miracle or a Government Sponsored Fraud? Pt 2

  A few months ago, we asked, “is China an economic miracle or one giant government sponsored fraud?” Our views were the latter with corruption as one of the key driving forces for wealth creation and economic growth in China.   Consider the following:   In 2010 alone, 146,000 cases of corruption were launched in China (that’s 400 PER DAY). Of the 14 cases that were actually reported in the Chinese media, the average amount stolen was 18 MILLION RMB (for perspective, the average college graduate in China earns 2,500 RMB per year). Between 1991-2011, ... Read More

Tags: Is China an Economic Miracle or a Government Sponsored Fraud? Pt 2,  Caterpillar Inc. Latest News