And their oil supplies are shrinking.
China’s Great Depression most definitely is coming. And its going to be ugly for the entire world including the US. They have been lying about their economic statistics for a while now. No one can be sure what they are but they aren’t as good as portrayed and there are signs they are a lot worse. At best, the result will be a world-wide recession and perhaps depression. At worst, East Asian political instability and war.
The reason why liberals don’t consider debt important is because they think that once you have the infrastructure, it doesn’t matter if the economy collapses. You can rebuild from where you are, once the infrastructure exists.
They don’t consider that it costs money to maintain the infrastructure.
I personally think the CCP knows there is end is coming, so they are gathering as much gold for themselves as they can before bugging out and leaving the Chinese citizen to pick up the pieces from nothing.
So who will write the 2026 version of the Glapes of Lath?..............
Russia is exporting fuel to pay for their special military operation
Great. Hope the arrogant pricks face the reality that they aren’t going to rule the world and play ball or millions of dogs will be killed to feed them.
The US gov’t continues deficit spending to fund waste fraud and abuse.
Because there is nothing better for world stability than a big cohort of unemployed, unmarried men with no hope for the future.
I can’t wait to see how this turns out. //sarc
During Trump's presidency debt has grown by 10.5 trillion dollars (so far). But instead of rail terminals connecting our cities we turn our wealth into smoke and dust on the other side of the world for the benefit of foreign nations.
The leader of our socialist economy has given the government a stake in at least 15 companies. But I guess it's ok when we do it, or something.
I can’t remember who made the point, but Xi made a strategic error by robbing the western companies that chose to invest in China. Had they opened their markets and allowed them to make a return on their investment, whether Xi was robbing the IP or not, those companies would have acquiesced.
He didn’t understand the long game. The game was not all the way in the trap before he closed the gate.
Nobody trusts him with their money. Only way out for China is post-Xi.
Whether it will be a Great Depression or just a serious and prolonged downturn, its coming. The demographics alone would tell you that. China adopted the 1 child policy about 40 years ago. In addition to that, the 4 big state owned banks are carrying a ton of toxic debt from ghost cities, extra unfinished and unused apartments, infrastructure projects that were white elephants, etc etc. Incredibly, the CCP has been able to keep the bubble from full bursting yet but China’s debts are much worse than ours were before the 2008 Great Recession. You can’t escape the consequences of that forever.
“The pot calling the kettle black.”
“Socialists avoid the natural controls of capitalist economies that let businesses fail”
Perhaps it is better to subsidize Miss China at 10% of her income than to subsidize Miss Gimme at 100%.
The US subsidizes very expensive PPACA policies, often at 100%.
Has the nurse strike for $200,000+/year/nurse to hand out pills been settled?
In the USA, Medicare Part B services and injectable drugs costs ~$10,000/year per recipient on average.
Correct.
Based on everything I keep seeing about China they’ve been in a financial depression for some time now. It’s so bad that young people don’t want to get married, have children, buy a house, or anything. The movement is known as “lying flat” and “let it rot.”
It’s becoming such a problem that Xi has mentioned it as being a danger to China’s national security.
China got old before they got rich. Its likely not reversible.