Posted on 01/16/2020 8:41:16 PM PST by Olog-hai
The world’s second-largest economy grew by 6.1% in 2019, making last year China’s worst economic performance since 1990, according to data released by the National Bureau of Statistics on Friday.
The figure is within Beijing’s official target of 6.0% to 6.5%, but down from 6.6% in 2018.
The economy faces “downward pressure” and “instability sources and risk points” abroad are increasing, the government said in a statement. […]
The World Bank said in a report this month that weakening exports in China had compounded the impact of its ongoing slowdown in domestic demand.
But analysts noted that China’s slowdown is structural, as it becomes a more developed economy and faces demographic challenges such as a shrinking number of people of working age. …
(Excerpt) Read more at dw.com ...
Better ‘growth rate’ than the U.S. and most other economies.
But, who did the computation and the reporting? The Chinese themselves? They probably are in recession, but they will never report the truth.
Everything about what their government reports is fake. It’s what they don’t report that is the real concern.
I warned people about this on another thread. They think China doesn’t have its problems.
Sum Tin Wong.
Wi Tu Lo.
...Bing Dang Ow.
They’re well known to cook the numbers
I always assumed subtract 8-10 percent of their stated growth since 1993. They have been reporting double digit growth since then.
https://tradingeconomics.com/china/gdp-growth-annual
It’s a house of cards built on regional debt, bank loans, central planning ..,.
It will crash. Faster than the US dollar and US economy. I hope very soon.
Thank you President Trump!
How does the official growth rate reconcile with an approximately 10% drop in vehicle sales last year from 2018 levels?
China is in recession, manufacturing base leaving, exports down 20 per cent , retail sales in historic slump. auto sales down substantially. Only 6% growth ? Why not 142%? If you going to cook the books, why not be serious about it?
If that is what they’re officially admitting to, then the reality is probably far worse.
How long until the largest-in-history Chinese real estate bubble bursts?
They’ve built entire “ghost cities” along with a whole lot of apartments they can’t rent/sell. Supposedly $1 trillion has been pulled out of the country and sent overseas by wealthy Chinese who see what’s coming and are getting out first.
Aging population. China got old before it got rich.
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