Posted on 11/12/2024 3:03:48 PM PST by Vendome
Xi Jinping has put the fate of his country and regime in the hands of others, especially the next leader of the country he considers an enemy, the United States. Yes, China’s ruler, who many consider the world’s most powerful figure, is, in reality, helpless.
How did that happen?
in short, Xi did it to himself. ...he has consistently rejected common sense advice to boost consumer spending to make it the basis of the Chinese economy, and almost all his recently announced stimulus measures will directly or indirectly erode consumption.
This means Xi has only one option left: export his way out of economic difficulties.
Although China’s exports have been soaring – they were up a stunning 12.7 per cent year on year last month – the growth is not sustainable. Nobel laureate Paul Krugman pointed out to Bloomberg, global markets are not big enough for Xi’s plan to succeed. “We can’t absorb,” he said. “The world will not accept everything that China wants to export.”
defaults are virtually inevitable because China’s total-country-debt-to-GDP ratio is dangerously high. taking into account the infamous “hidden debt” and adjusting for inflated GDP reports, the ratio could be, 350 per cent.
In February, speaking to Maria Bartiromo on the Fox News Channel, Trump suggested that he might impose tariffs greater than 60 per cent on Chinese imports.
Levies of that size – not to mention the 100 per cent rate he has talked about at times – would tank China’s already weak economy. At even the 60 per cent rate, some Chinese goods would be shut out of the US market entirely. For others, China’s central or local governments or Chinese manufacturers would have to absorb most of the cost.
(Excerpt) Read more at msn.com ...
mAYBE tRUMP CAN HELP?
Maybe Xi and China will learn to keep their viruses to themselves next time.
Let us hope war with Tiawan doesn’t becomes the only option left for Xi.
This guy always predicts doom and gloom for China. I’ve seen videos of him predicting imminent doom for China around the turn of the century. LOL!
They’re gobbling turf in the oceans, South America and Africa like they have the money.
Maybe Trump’s threat of tariffs is mainly meant for Xi’s consumption, more than just a revenue raising proposal.
China has the People’s Bank of China, just like we have a Federal Reserve.
Both can create money whimsically.
Hard to collapse when you can create infinite money.
Yep, he’s been saying the same thing for years.
In return for Trump’s help, let’s see if Xi finds a few secret documents about the Wuhan, Gauci, and the CIA
“Hard to collapse when you can create infinite money.”
No, eventually you become Germany, circa 1930s.
Bicycle rebellion going on in China.
It is my understanding that one company in China produces more solar cell capability in just one year than the entire US industry ever did.
I read today that China has 32 million vacant apartments. They won’t remain vacant if offered for and bought for a reasonable price.
In 1933, the US banking system collapsed. The US recovered.
Life goes on.
“threat of tariffs”
President Trump, the CEO of Ford is on line 1, the CEO of GM is on line 2, and the CEO of Stellantis is on line 3.
What’s the problem?
The Chinese are not supplying a critical part....
“ This guy always predicts doom and gloom for China.”
Yeah. I noticed that too.
I think the sensationalist marketing is done to sell books and garner attention.
What he’s saying, and he is not the only one, has been happening, gradually and consistently. It’s accelerated recently. And Trump coming back will exacerbate it.
Has Krugman ever been right on anything?
Yeah, that nasty, spreading RNA virus.
Sure.
China has been around much longer than the US, or the West. They aren’t going away.
32 million vacant apartments? That is a drastic underestimate. There are some estimates out there that there are enough apartments in China to house everybody in the country twice.
CC
Two things that have been continuously occurring for at least 2 decades; China’s economy is collapsing and Iran is 2 weeks away from a nuclear weapon.
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.