Posted on 08/31/2023 12:11:58 PM PDT by nickcarraway
The past six months has brought a stream of bad news for China's economy: slow growth, record youth unemployment, low foreign investment, weak exports and currency, and a property sector in crisis.
US President Joe Biden described the world's second-largest economy as "a ticking time bomb", predicting growing discontent in the country.
China's leader Xi Jinping hit back, defending the "strong resilience, tremendous potential and great vitality" of the economy.
So who is right - Mr Biden or Mr Xi? As is often the case, the answer probably lies somewhere in between.
(Excerpt) Read more at bbc.com ...
TikTok...TikTok...TikTok...
Xi’s a BRICS... oust.
Xi’s the yuan, the only yuan, dealt in the amazon...
Xi’s a BRICS... oust.
Flying cars, Cures for Cancer & Baldness, New York City underwater, Hillary is going to be arrested, re-newables will be cheaper and better than fossil fuels, Kathleen Kennedy is getting fired, Dollar loses it World’s Reserve currency which results in Hyperinflation, Deflation, China Collapsing....
I been hearing the same “Bombshell” things which are apparently imminent for 40+ years and they never happens..
The US’s $31 trillion debt insures we are the ticking time bomb, all other countries pale in comparison.The EU is the very first to bite the bullet, Russia the last….the US with all their creative book keeping falls somewhere in between.
The whole global economy is a ticking time bomb.
Meanwhile, Biden sends his people to China to back off Trump’s policies to help China out and concurrently Make America Last Again.
“”China’s leader Xi Jinping hit back, defending the “strong resilience, tremendous potential and great vitality” of the economy.””
Sounds like China’s leader just copied an Obama / Biden Regime speech about the USA economy.
If their economy is hurting, it’s because America is into The Great Depression II. We can’t charge anymore on our credit cards.
Several years ago, I visited China and talked to businessmen over there. At that time, the Chinese economy had some huge red flags. China was cracking down on Hong Kong and trying to threaten dissidents with jail time and extradition to mainland China. The housing bubble was starting to become visible as well. The obvious problem was that under Communism, people didn’t “own” the residence they lived in, that sort of had rights to it, but only for a fixed period of time, then it reverted back to those that built it or the State.
At that time people were moving from rural areas to the major cities to try to find good paying jobs. Those that couldn’t find jobs, created side hustles that provided income. We had several “guides” provide us with special tours as side hustles.
I remember sitting down at dinner with one business man who told me that the investors who owned all the new factories in China were mainly from Hong Kong or Taiwan. He told me that the more the Chinese government threatened them, the more they were likely to move their factory equipment to Vietnam or Thailand and without the jobs, the Chinese economy would collapse.
When I was in China I saw a huge difference between those who had well paying jobs in the cities (they had nice homes drove cars on supper freeways for the most part and those homes were part of Government sponsored multiple housing developments) and those who were just above subsistence level in rural farming areas.
The newly rich are use to 6% or greater a year GDP growth. That is now forecast to be at most 2 to 3% per year growth.
The newly rich are going to feel financially pinched at best. Some of them will loose everything financially and have to move in with family. The poor who had hoped for a better life will see no hope for the future. Both those groups will be ripe for either revolution or troubled political times in China. People were willing to put up with a lot of central government nonsense when times were good. Not so much during bad economic times.
Exactly, the US knows the financial end game is nearing, ….how to “ fix” it?
From Tucker, …..WAR….
https://theduran.locals.com/index.php
Make China 1959 it’s the best way to stop Xi’s war machine.
The ONLY reason Biden cares he fears the checks won’t clear.
Copy that!
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.