China's economy in crisis, on the brink of collapse?
https://www.lemonde.fr/en/economy/article/2023/08/20/china-s-unprecedented-economic-crisis-worries-the-rest-of-the-world_6099473_19.html#:%7E:text=Is%20the%20Chinese%20economy%20on,the%20country%20entered%20deflation%20territory.Open linkView original on lemm.ee
8 replies
Sensationalist title with a question mark at the end of it?
The answer is almost always "no".
Betteridge’s Law of Headlines - I find it has near universal applicability.
Doubly so for any headline predicting a financial crisis of any sort.
¯\_(ツ)_/¯
China bet hard on developing countries because the developed world isn't growing at a rate that can keep up with China's economic growth targets. In fact, we're very quickly running towards the crossover point for Chinese trade dependence on the West vs. on the rest of the world.
Also, a big chunk of Chinese exports to the West is in computers and consumer electronics... Markets which have seen a huge slowdown due to commoditization and aggressive political lobbying from the US.
No, but the country is going to go through a lot of economic pain.
No, but it's going to take a pretty good ding to eat that Evergrande turd.
Capitalism is China's economy. They'll collapse together when they do