Yup bad year but up huge vs 5 years ago. Chinese tech? Not so much - Alibaba for example is half the price it was in 2017.
So who trusts the Dementia Joe US government who keep insisting inflation is ZERO even as inflation hits 40 year highs at 8.3% and furiously insists the borders are secure same time over 2 1/2 million illegals have rushed across the borders since Dementia Joe seized power?
ANd yet, the policies the Chinese are doing are 10x worse and even less visibility into the truth.
Except most Chinese and Chinese companies store their wealth in China.
Due to strict restrictions on outflows on Chinese citizens. There are no inbound $, which is what is needed to become the reserve currency because no one trust the Chinese government, including the Chinese wealthy. They'd move nearly all their money out tomorrow if they were allowed to do so.
Not a chance.
The Chinese economy has performed cocnsistently better than the US economy going back decades, in GDP growth, trade surplus etc etc. Heck we owe them money from China buying US government bonds.
The Chinese are producing vastly more engineers and scientists than America, and have even sent their own Rover to Mars, only the second country to do so.
Yup bad year but up huge vs 5 years ago.
Its funny how you lie effortlessly.
Here is the chart of Facebook aka Meta for the past 5 years from yahoo finance. They haven't gone anywhere, let alone gone up “huge”. Chuckle.
https://search.brave.com/search?q=facebook+stock&source=web&rh_type=st&range=5y
Alibaba for example is half the price it was in 2017.
Tencent is at about the same price it was 5 years ago, same as Facebook/Meta.
Um. nope.
The Chinese would much rather invest their money in the fast growing Chinese economy than the recession bound, high inflation, very high Multi trillion dollar deficits US economy.
There are no inbound $, which is what is needed to become the reserve currency because no one trust the Chinese government,
Nope.
China, India, Russia, Brazil and the BRICS countries are busy creating their own reserve currency and their trading currency.
They don't want the crazy Dementia Joe to tell them what to do.
Its foolish for them to support the 40 year high inflation US dollar.
including the Chinese wealthy. They'd move nearly all their money out tomorrow if they were allowed to do so.
The wealthy in China have vastly more of their assets in China than in America. They don't want Dementia Joe seizing their money if/when there is a conflict between China and Taiwan, like he did to Russian billionaires.