Posted on 02/08/2024 5:11:58 AM PST by FarCenter
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January's 0.8 percent drop in the consumer price index, announced by the National Bureau of Statistics, marked the fourth straight month of deflation and was much bigger than the 0.5 percent fall forecast in a survey by Bloomberg News.
The reading was the worst since the second half of 2009, during the global financial crisis.
And a 2.5 percent plunge in the producer price index -- which measures the cost of goods leaving factories -- signalled continued weakness.
China slipped into deflation in July for the first time since 2021 and, apart from a brief rebound in August, have been in constant decline since.
"The primary drag on inflation continued to be food prices, which fell by 5.9 percent year-on-year, the lowest level on record," said Lynn Song, Chief Economist for Greater China at bank ING.
(Excerpt) Read more at france24.com ...
In only this one way, can we be more like China?
The Chinese economy is failing big time. We do not want our economy to fail
Really shows why the Party of the Rich and Government did not want Trump to be reelected in 2020 the way Reagan got reelected in 1984 (at that time the Soviet Union and East Bloc still existed, but not for long afterwards).
Because Deflation will help them with their massive debt problem. There is nothing better than paying debt back with money that is MORE expensive than what you borrowed. //sarcasm
China is screwed in ways that most of the people in the US simply don’t understand.
The population is old. It is depressed. They are losing their savings, and fast. The young men cannot find wives.
And yet, we hear talk of them being expansionist and aggressive. They are aggressive like a Mal nourished dog with cancer. Leave them alone, they will bark and slobber. But they will also die.
$ prop up CCP. NO $...
Trump had little to do with the failing Chinese economy.
The failure is the purposeful effort of Chairman Xi and the CCP that are ridding all elements of capitalism and enforcing the new China socialism.
The CCP is in the process of gaining control of all business and industry
“the Party of the Rich and Government”
***********
+1
Declining prices?
They must have developed a Bidenomics antivenin!
Now they need to figure out a way to export it to the USA!
We will take all they can send !!!!!
Bidenonics’ 3% decrease has a 60 count box of eggs at Walmart today for $15.38. Not doing common core math, that’s a 35% increase from 6 weeks ago.
More on the Chinese collapse - pick you sector:
China Observer
https://www.youtube.com/@ChinaObserver0/videos
Falun Gong affiliated channel.
It’s true that there are lots of problems in the “capitalist” sector of the Chinese economy that grew rapidly between 1990 and 2015. Since then the CCP has been attempting to reign in and cure the excesses.
Remember that the approach was and experiment with “I don’t care whether the cat is black or white, so long as it catches mice.” The intent was to adopt various Western economic approaches and find out what would work for China.
Now they are pruning away what didn’t work.
The intent was to adopt various Western economic approaches and find out what would work for China.
From what I have been reading over the past 25 years, the NUMBER ONE western approach China has fully embraced is CORRUPTION. I believe NOTHING that comes out of China.
So since it is working so well, I highly doubt that ANY amount of pruning will rein that in. In other words, there ain’t no pruning going on in China.
Just lots of Smoke-n-Mirrors
During the last third of the 19th Century the US went through the “Robber Baron” era, when mainly Northeast Yankee capitalist engaged in no holds barred competition to plunder the North American continent.
This was followed by the “Progressive” era of Taft-Hartly anti-trust and the beginnings of government regulation of business.
China is going through the same phases.
Now they are pruning away what didn’t work.
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Which seems to be low end assembly manufacturing, their military, and real estate ... What’s left is a hollow shell.
Falun Gong affiliated channel.
—
and?
The Chinese business philosophy seems to be “Whatever I can get away with to make a buck.”
Remember the baby formula adulterated with melamine, which caused irreparable kidney damage?
There was also baby cough syrup that contained ethylene glycol (antifreeze). This stuff was exported to South America and killed a number of infants.
Ethics? We don’t need no stinkin’ ethics!
Chinese version of New Age woo.
You are so dismissive. You must be a CCP agent?
Since when is a price drop suffering?
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