Xi JinPing installs finance experts to manage China's economic risks amid fears of a financial meltdown

Taipei Times ^ | 12/29/2019

[SeekAndFind]

[SeekAndFind]

[RoseofTexas]

how does that saying go… Keep an eye out for a cornered animal is most vicious when cornered! I would not doubt for one minute these evil communist bastards start a war with the USA!

[SeekAndFind]

[SeekAndFind]

China has had its share of setbacks in the past year preventing it from implementing the type of monetary policy it desires, most notably soaring food inflation as a result 110% pork CPI...

... even as producer prices, a driver of industrial profits, slumped below zero earlier in 2019, a clear indicator that China's enterprises desperate for lower rates.

[jcon40]

Our chance to export Paul Krugman ?

[ClearCase_guy]

Win the trade war — collapse China and get Chinese money out of US politics.
Drill, Baby, Drill — become an oil superpower, change the Middle East and get Arab money out of US politics.
Drain the swamp — remove corrupt US officials and arrest the leaders, get Soros money out of US politics.
MAGA

[bigbob]

Remember, China is not a free country, banking and the financial systems are run by the CCP. Xi does a lot of PR for the external world but internally he is under a lot of pressure from the forces who really run China.

Trump knows this and that’s why he keeps turning the handle of the vise.

[BeauBo]

It is going to be an epic writedown of bad debt, and revaluation of of their currency. The working people are going to have their net worth halved.

Domestically, they can fudge the numbers, and continue to print their Monopoly money, but in dollar terms, the reckoning is approaching.

It is going to be Epic.

The best cure for them would be to throw off the Communist Party rule.

[FreedomPoster]

I like the way you think!

[huckfillary]

These people are so GD stupid. Every member of the Chinese leadership at every level should begin by immersing themselves in the works of Adam Smith, Murray Rothbard, Ludwig von Mises, and Ayn Rand. They might just learn a thing or two.

[dfwgator]

Could it actually lead to a resurgence of Maoism?

[Ken H]

As China struggles to deal with the slowdown of the world’s second-largest economy, it has embarked on a new strategy of placing financial experts in provinces to manage risks and rebuild regional economies...

...and to be sacrificial lambs when the economy tanks.

[spokeshave]

Ha,,,so where did these expert study...?

The Patrick Lumumba memorial university in Moscow.

[ameribbean expat]

Out with the engineers...in with the bankers. An admission of failure.

[Farcesensitive]

Nothing can save them and these “experts” will probably make things worse.

[granada]

In 40 years China has become the second largest economy. They have definitely learned more than a thing or two.

[PGR88]

I feel to see how China can have a “financial meltdown.” YES it is absolutely burdened with debt everywhere - private citizens, local governments, state-run corporations. Its banks are chock full of meaningless and worthless debt obligations. BUT - China controls them all. Xi Jinping (perhaps sensing this) has strengthened the Party membership at all state-run institutions, including banks. They will do exactly what the Government and communist Part want. If the government wants to shut down short-sellers or close markets, it can do so. There is no possibility of people like George Soros “shorting” China. If the Government wants to print money, in their own form of QE, it can do so. Its has a closed capital account and if it needs to, it will get very brutal on anyone trying to let money escape.

China is more likely to face a slow, grinding, multi-decade zero growth period (as well as population decline), like Japan.

[volunbeer]

It is interesting that Xi and the party have been increasing control recently as they are under increased stress and pressure. Trump is a major threat to them as he has displaced their appointment for the economic throne and slowed the wealth redistribution from our nation to China AND he is showing the Chinese people (who respect him) what freedom can do for a nation and people.

The real question may be “how does this all end?”