.
Let us use this as a dangerous opportunity.
First of all if they No send goods we no send money. They can’t profit like this.
Secondly let’s seize the need to build up manufacturing in the US
One very significant detail... Most Chinese have at least a few years savings in the bank. It is not like the U.S. where someone misses a paycheck or two and they are late on their payments.
“To all this we must add a currency, the yuan, which is used in less than 3% of global transactions, according to Reuters, due to the extreme capital controls and the exchange rate fixing imposed by the central bank. Confidence in the local currency is low due to the extreme intervention on the currency market, which is preventing China from having a truly international means of payment. “
So tell me the fairy tale again how the yuan is going to replace the dollar. THAT WILL NOT HAPPEN.
China and Russia are switching to war economies.
China had once used its COVID-19 response as a proof of the strengths of Chinese Communist Party (CCP) rule, but now its latest struggles containing the pandemic is proving to be a "critical threat" to CCP rule, according to China expert Gordon Chang on Newsmax.
China is desperate to save the CCP as it locks down its people amid outbreaks, according to Chang.
"This is totalitarianism," Chang told Sunday's "Wake Up America," "pushing people as far as people will let them."
"Of course in a totalitarian society, it's much worse."
“ China’s high debt is also a problem. Total debt stands above 300% of GDP, according to the IIF. The ECB points out that China’s debt-to-GDP ratio for the entire private sector now stands at over 250% and the corporate component of this debt is the highest in the world.”
Not only do they have epic levels of debt, but an epic amount of that is bad debt, that will never be repaid (like their unoccupied ghost cities, rotting away).
It is a financial house of cards - or rather a world record tall skyscraper of cards.
I have a theory on this. (Puts on tinfoil hat, you guys can tell me if it’s warranted).
The CCP screws up and releases COVID. They see how it’s spreading, and what it’s going, and know that as densely populated as their cities are, that it’s going to be BAD. Bad enough to tank their economy. So, they ship a bunch of people around to other countries to make sure that THEIR economies tank just as badly. “We’ll all be in this together” they say. It works.
NOW, the real estate bubble has popped in China, it’s 29% of their economy, and they realize it’s going to get BAD for them. They can’t be that economically weak when the rest of the world is strong. Something might happen, or the party might look weak, and “lose face”. This simply can’t be. So, they do this faux lockdown to stop exporting products. It’ll tank THEIR economy, but it’s already screwed, so they don’t care. They need to tank everyone else’s economies as well, so that once again “We’ll all in this together”.
Am I crazy?
The Chinese economic numbers are even more fake than ours.
Recall the lemmings and their suicidal rush over a cliff? This is the world today where some humans seem almost gleeful as the major world economies they have been taught to hate go bust. As they celebrate, they pretend as though none of it will impact them in the slightest. Those that still possess survival skills, better sharpen them because It looks to me like lifestyles are about to head backward at a breakneck pace. What’s scary is that most people today come from privileged backgrounds and zero survival skills. How will they fare (survive even) in the coming worldwide depression?