P!
I’ve been saying it for several years: China 2000s-2010s is the next Japan 1980s-1990s.
This is all a bunch of fluff.
Hard landing or not, China now has America’s manufacturing base, technology and money.
That will not change, until we change it.
Wasn’t there an article last week about 7 large manufacture owners in China just closing up and disappearing? Government finding out the companies were millions in debt?
I'm surprised that any goats are left alive seeing that everyone is busy reading their entrails for clues and signs.
Jeez, they can’t afford Tiffany and Vuitton? I guess the Chinese will have to settle for the cheap crappy knock-offs they export to the rest of the world.
China has come a long way very fast. The economic progress has probably outrun the social, cultural, and political adaptations that are needed. That makes things tricky. From a trade standpoint, China has to develop the understanding that with size comes systemic responsibility. Predatory mercantalism worked for them on the way up, but the Chinese economy is now large enough that the old approach is destabilizing the international order on which China now depends. People being what they are, a couple of hard knocks will probably be part of the learning experience.
China has to learn that a serious U.S. recession is a high-cost, high-risk proposition for China as well.
bump.