Posted on 03/01/2024 6:49:23 PM PST by nickcarraway
A promising surge in consumer spending over the Chinese New Year holiday doesn’t give Beijing any guarantees about an economic rebound ahead of its annual Two Sessions meetings, says Natixis economist Gary Ng.
China was surely hoping to start the year off strong, looking to the massive Chinese New Year holiday for signs of economic recovery, especially ahead of its annual Two Sessions meeting starting on Mar 5 where the government will announce its growth target for 2024.
With annual exports falling for the first time in seven years and investment dragged by the property turmoil in 2023, consumption has become the key in stabilising China's economic growth.
Official data showed a promising surge over the eight-day holiday, when hundreds of millions of Chinese returned to their hometowns or indulged in domestic tourism. Domestic trips and tourism spending exceeded 2019 pre-pandemic levels by 19 per cent and 7.7 per cent respectively.
(Excerpt) Read more at channelnewsasia.com ...
Their demographics are rotten for this. Too many old people (not big consumers) very few young people (they would be consumers, but there aren't enough of them). I don't see a way out for China.
P
Covid 20...
This used to be filed under ‘not my problem’ until Biden opened the border.
By 2030 the average age in China will be higher than the United States. It’s possible it already happened.
Bkmk
‘Official data’ from China shows whatever the CCP wants it to show.
If you really want to know how bad it is in China, here is a site that reports it.
China Observer
https://www.youtube.com/@ChinaObserver0/videos
Some recent titles:
China’s Tofu-Dreg Bridge Collapses With One Empty Boat Hit, Revealing Shocking Shortcuts and Graft
https://www.youtube.com/watch?v=1gR4GzfOD3Q
China Drains Hong Kong’s Wealth, Business at Only 10-20% of Past Years,a Plight Not Seen in 40 Years
https://www.youtube.com/watch?v=6XnAdOwxEbI
Engines Shake, Sound Like Tractors, Wheels Fall off Mid-Drive—How Poor Is BYD’s Quality?
https://www.youtube.com/watch?v=ZWzbq-Q_oTc
Company Gone on the 1st Day Back From New Year Holiday: New Round of Job Cuts and Pay Cuts Kicks Off
https://www.youtube.com/watch?v=2XKowHHgr1M
Shenzhen’s Become a Ghost Town: No Cars, No People, With the Unemployed Sleeping Rough
https://www.youtube.com/watch?v=6gfIupNb3Ik
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