Apart from mahjong, sex and huge debts, there is little else in China's more than 2,000 counties. There are nearly 900 million people in China who are living in poverty and despair in counties. Only 10% of them are college students, and more than 80% have an average monthly income of less than 3,000. 95% of them read zero books per year. They don't seem to need to be busy with work, but they also work tirelessly to create all kinds of "leisure". However, he did not know that a disaster was approaching, because the local debt and urban investment bonds that he relied on for survival had collapsed.

Beijing, Shanghai, Guangzhou and Shenzhen are illusions, and counties are the background of China. The county seat is the place that truly embodies the essence of Chinese culture. China's more than 2,000 counties are a typical society controlled by elites. A county may have a population of hundreds of thousands, but only a few hundred people are truly powerful. Among these hundreds of people, there are two to three hundred cadres above the department level, and there are also a few well-known people in the world. People in county towns are all about relationships, and connections determine success or failure. As for rules, abilities, talents, levels, etc., everything else is secondary. There are more than 2,000 county towns in China, which have been controlled by local elites and powerful people. They have no technology, no inventions, and even no culture. The county is a society lacking faith and integrity. At present, the serious lack of faith and integrity is not only in the county, but also the biggest obstacle to the development of the entire society. The lack of faith leads to a lack of bottom line, fearlessness, and confidence. People only believe in power and money, and just follow their own desires at a loss. So, where do the funds come from to maintain a county like this?

Local bonds 9 urban investment bonds. Because there is no mortgage, no restraint, and no planning, nearly 2,000 cities in China are like 2,000 unorganized people entering a large infrastructure supermarket. The primary purpose is consumption, pulling over production capacity and projects, landing them locally, and repeating the process regardless of cost. construction. For cities, the central government takes care of everything and no one wants to pay it back. Asia Finance believes that government-led infrastructure investment has squeezed out a large amount of social wealth. A large amount of social wealth resources that should have gone into consumption and private investment have been lost. Mismatch lies in ineffective infrastructure. For the people, a little leakage from the project can be enough to make a fortune. Whether it is supplying cement for the bridge or baking bricks for the industrial park, first earn the hundreds of thousands this year;For leaders, if several or even dozens of projects are implemented, the GDP assessment is successful, and poverty alleviation is promoted, it will inevitably rise; for white glove projects, wealth has been transferred and big money has been made. As the main promoter and big winner, eating Exhausted the dividends of the infrastructure maniac.

For banks, since the government has unlimited credit, it can package tens of billions of projects at will. So every aspect of this society from top to bottom is like the 2,000 people shopping and consuming in the supermarket. Since the debt will not arrive in 10, 20, or 30 years, and since the bill is paid by 1.4 billion people, Then you must get more, snatch away the lobsters and abalones in front of you, and let yourself eat all the bonuses first. Now it’s time to pay off the debt, and it’s time for Gucheng’s economy to completely collapse.