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Keyword: potemkineconomy

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  • Potemkin Economy: More warning signs about serious problems with the Chinese economy

    10/09/2024 7:08:11 AM PDT · by SeekAndFind · 7 replies
    American Thinker ^ | 10/08/2024 | Andrea Widburg
    It’s been obvious for years that China has a Potemkin economy, kept alive by slave labor, market bubbles, and government underwriting. it can’t last forever. The latest grim forecast about the economy comes from Peter St Onge, an economist with a much deeper fund of knowledge about and understanding of the Chinese economy than I could have in a thousand lifetimes.The biggest hint that the Chinese economy was in trouble was the demise of Evergrande, a massive property developer in China. The bankruptcy was huge, with the company’s assets valued at a probably inflated $245 billion and debts of $300...