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9/28/08

AP Repeats China's Lies, Attacks US Economy System

The Associated Press reported that China's Banking Regulatory Commission criticized America's lending practices and claimed China's "more cautious system... prudent approach to banking had enabled the country to avoid the credit crunch so far." AP reports "China's state-owned banks have avoided the turmoil roiling Western markets."

This is completely false.

What AP fails to report is that China's stock market has tanked two-thirds in the last year. Much worse than the US economic crisis. The Calgardy Herald reports that "Beijing launched an unprecedented rescue package" into the "casino-like market," but this hasn't had much effect.

The Associated Press obviously loves the communist economic system and hates capitalism.

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