Posted on 01/20/2019 9:38:03 PM PST by Olog-hai
China’s 2018 economic growth fell to a three-decade low, adding to pressure on Beijing to settle a tariff war with Washington.
The world’s second-largest economy expanded by 6.6 percent over a year earlier, down from 2017′s 6.9 percent, official data showed Monday. Growth in the three months ending in December dipped to 6.4 percent — the lowest quarterly level since the 2008 global crisis — from the previous quarter’s 6.5 percent.
Communist leaders are trying to steer China to slower, more self-sustaining growth based on consumer spending instead of trade and investment. But the deceleration has been sharper than expected, prompting Beijing to step up government spending and order banks to lend more to shore up growth and avoid politically dangerous job losses. […]
Economic growth in 2018 was the lowest since 1990′s 3.9 percent in the aftermath of the violent crackdown on pro-democracy protests centered on Beijing’s Tiananmen Square.
Growth in investment, retail spending and factory activity all declined, the National Bureau of Statistics reported. …
(Excerpt) Read more at apnews.com ...
Of course it isn’t.
But I do agree with you that we have dangerously helped China build itself up, largely with our technology, for decades—both illegally and by official policy.
Localism has to be our new movement as we have taken globalism and free trade far beyond rationality. More than most seem to realize, and we have to stop feeding the China beast.
Is too.
But I (completely) agree with you.
100%. You seem to get it, very well said.
I too suspect their official numbers are a fantasy. A lot of their “GDP growth” is tied up in their huge real estate bubble. When you see the pictures of “ghost cities”....when you read the staggering percentage of apartments that are sitting empty and unsold....that represents so much waste. Their 4 big state banks have got to have a frightening amount of toxic debt on their balance sheets that they just haven’t admitted to yet. When that bubble bursts it’s not going to be pretty.
Everyone is entitled to their own opinion but not to their own facts. China is growing...far less than they had been and according to Communist Accounting Rules.
The US is most certainly not shrinking in any way. “Fundamentally” or not, whatever you mean by that.
The communistic state of being is the same as the thousands-of-years-old Chinese society?
Anyone who expects Red China to become less socialist (more free) is deluding him/herself, with all due respect. Their current imperialistic push (militarizing the South China Sea, taking over other countries’ infrastructure via debt traps, ad nauseam) is evidence that they are as socialistic as ever.
I also agree that the political left in the USA built Red China up, and that is dangerous. It’s an echo of the Marshall Plan, which has resulted in today’s European Union, itself as potentially dangerous as Red China if its current oligarchy turns into an autocracy with one dictator at the top.
But there is no evidence that trade surpluses are a measure of a country doing well, even as a means of leverage against the country with the deficit (if recent reports of China agreeing to buy a great deal more US products are true).
No more building ghost cities.
https://newsletter.baldingsworld.com/2019/01/21/china-december-gdp/
Lot of it is over my head, but there are prts normal people can understand.
Looks like the “trade war” is coming along well.
Though the “trade war’ isn’t the important thing.
I DON’T CARE.
They are a fascist country. Fascism is a melding of government an business. China is not free and never will be free. But we have Americans blowing their horn daily.
Fascism is just another form of communism. Reading Mussolini’s quotes made that plain to me, where he talked about his belief in the non-existence of God, social justice, redistribution et al.
Mussolini started out as a Socialist, but abandoned the Internationalism aspect.
He thought of himself as the new Caesar for a while. All fascists and “national” socialists are their own kind of internationalist, on the basis of their home peoples being the superior of all the other nations of the earth.
Net of our massive, and ever-rapidly growing deficit.
We are SHRINKING.
With all due respect. And China is growing. Rapidly.
I think you mean debt, not deficit. And that’s not how you measure growth. China is shrinking and the US is expanding.
Nope. Our debt, while bad, is roughly 100% our annual GDP. Chinese debt is roughly 250% of their GDP and growing fast.
Our debt is growing.
Our deficit is growing. Currently it is at an all-time terrible record high.
The worst ever. With anyone. Ever.
In the year, just ended.
Political left?
EVERYONE is building up China.
Everyone.
Sorry.
That is our trade deficit (with China)
All-time record bad total.
Worst ever.
No, not everyone. Don’t falsely accuse Trump of doing that.
And don’t leave out the European Union here.
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