Posted on 03/21/2019 5:40:57 AM PDT by E. Pluribus Unum
BEIJING — Since the 2009 global financial crisis hobbled most of the world’s developed countries, China has been the economic locomotive pulling the rest of the world behind it.
As the economies of Europe, the U.S. and Japan stagnated, China went from strength to strength. It surpassed its Asian rival to the east a decade ago in total gross domestic product to become the world’s second-largest economy, with its sights trained squarely on the United States.
Indeed, judged by what economists call purchasing power parity — the idea that services such as a haircut are valued equally — Beijing already can claim the title of the world’s largest economy.
But the sputtering Chinese-driven train appears to have pulled into the station. Growth targets have been slashed. Exports have fallen. Debt levels are rising. Some economists even say China is in a recession.
“It is true that China’s economy has encountered new, downward pressure,” Chinese Premier Li Keqiang told reporters last week at the conclusion of the annual National People’s Congress gathering in Beijing. Faced with growing pressures within and without, the government said it plans to create more than 11 million jobs this year to avoid a politically disruptive slowdown.
Mr. Li used unusually stark language to describe the challenges China faces. He said government planners at all levels need to “turn the blade inward” and “cut our own wrists” to carry out the sacrifices needed to keep the economy afloat.
In the long-run competition between the U.S. and China for economic supremacy, JPMorgan Chase CEO Jamie Dimon said he is betting on the U.S.
(Excerpt) Read more at washingtontimes.com ...
It should do just that. We’ve been chumps for too long. This Boeing crash gives the Chicoms an excuse to hold back on airplanes while they develop their own with the help of stolen technology. It’s called eternal vigilance or better yet trust but verify.
I read articles not too long ago that predicted that China was likely going to be in serious financial and economic difficulty. Trump is merely exposing the contradictions and other problems that China created for itself.
I will argue there is no real economic competition between America and China. There is no game as such.
Both America and China and all active nations seek to advance their own goals and self interest. Few if any American wake up every morning and think how will I enhance the American economy to beat China?
The GDP number is not a score. The GDP number is a statement of economic fact.
President Trump has taken on China to make American business more profitable by increasing sales with that nation.
These Free Traitor™ hacks say this like it is a bad thing.
Only traitor would think that. Look in the mirror.
China grew because it provided slave labor, manipulated trade, and stole intellectual property. I can’t imagine why they would be having problems now that Trump is in charge.
“The leech has two daughters,
Give and Give”.
Proverbs 30:15 NAS
Argue? With who? The orderlies? I think Nancy Pelosi is more mentally stable than you appear to be. Ask the day nurse to up your meds and log off the PC in the day room. Thanks.
The problem is the almost all consumer goods are now made in China.
For example, this past Sunday after church my wife and I went shopping for curtains for our family room sliding door and picture window. I actually went to the Mall of NH for the first time in years. We went in JC Penny’s because they used to be the place to shop for window treatments. After not finding what we wanted, we looked on our phones and decide to go to Bed Bath & Beyond. So, we ended up buying insulated curtains there. Made in China. We also bought curtain rods. Made in China. I checked the tags on the packages. They were all made in China.
Second part of my recent shopping experience. I went to a local shoe store after work last night. I ended up buying a new pair of sneakers/athletic shoes(Brooks-Ghosts). Again, made in China. All the shoes I picked up were made in China.
Even a pair of Florsheim dress shoes were made in China. This is at Alec’s Shoes here in Nashua. The best shoe store in the world(IMHO) where they actually have experienced shoe salesman to assist you. FYI, the only shoes they had that were made in the US were Chippewa work boots, that are still made in Wisconsin.
After Christmas I bought a Milwaukee cordless driver and impact drill set at Home Depot. It is a really good quality cordless drill set. Made in China.
The problem is the almost all consumer goods are now made in China.
I do not understand your point or comment?
When the world wants a lawyer or a financial advisor or a meal at Hot Dog On A Stick, we've got them covered. :)
Chine feels, now, the way the U.S workers felt in the 70s, 80s and 90s when our jobs were racing over seas.
Why our leaders agreed to terrible trade deals that crippled our country I have NO IDEA !!
Compassion for the less fortunate does not mean you bare your soft underbelly and hand your enemy your sword!!
“In the 19th century, China was one of the world’s richest, most productive economies. But by the end of Mao’s disastrous 27-year reign of collectivization, state command and brutality, the country was deeply impoverished, barely able to feed itself. During the grim, ironically named Great Leap Forward, a period of mass collectivization that lasted from 1958 to 1962, tens of millions died of starvation as China’s agricultural sector was devastated
Then China went from Communism to Fascism, which works much better...for a while. The question is not IF the wheels fall off...it is WHEN. The world will be less hurt if we do not depend on China as much as we now do for production.
Very interesting “take” (in the article) about how the Hanoi summit plays into the trade talks.
MAGA!
Your post is illustrative of why you are not a CEO
Your focus is warped
I’m all for KILLING CHINA’S ECONOMY! I mean ... we REALLY REALLY NEED TO DO THIS! There may be a few things that ‘hurt’ here, but there are going to be things that are ‘murder’ in China. And I’m cheering!
Keep it up President Trump!
CEOs are enemies of the state for the most part. Very few are not globalist Democrats and Free Traitors™ like you. None are patriots. I have too much self respect to be a CEO. I can’t suck arse very well. Especially if I had a guy like you above me and I had to stick my head up you arse everyday until I got promoted.
A bee sting at best.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.